IHH Healthcare's Island Hospital Acquisition Looks a Good Asset With Reasonable Price -- Market Talk

Dow Jones09-05

0107 GMT - IHH Healthcare's proposed MYR3.92 billion acquisition of Island Hospital appears positive, as it is a high-quality asset at a reasonable price, says Hong Leong IB analyst Chee Kok Siang in a note. This is because of Island Hospital's strong brand, strategic Penang Island location and attractive enterprise multiple compared to previous deals, he says. The deal is expected to be earnings accretive even under conservative estimates, he reckons. The proposed acquisition also prevents the hospital from falling into competitors' hands, he adds. Hong Leong maintains a buy rating on IHH and keeps its target price at MYR7.70. Shares are 0.9% higher at MYR6.45.(yingxian.wong@wsj.com)

(END) Dow Jones Newswires

September 04, 2024 21:07 ET (01:07 GMT)

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