Fortis' Bengaluru Buy Likely Has Limited Earnings Impact for IHH Healthcare -- Market Talk

Dow Jones12-22 10:16

0216 GMT - IHH Healthcare's associate Fortis Healthcare plans to acquire People Tree Hospital Yeshwantpur in Bengaluru for INR4.3 billion is likely neutral for IHH, CIMB Securities analyst Chun Sung Oong says in a note. The acquisition's estimated earnings impact is limited to about 0.1% of IHH's 2026 forecast earnings and unlikely to affect IHH's net gearing, he says. While the purchase supports Fortis' strategy to expand bed capacity in India, the share price reaction is likely to be muted, he reckons. However, IHH remains CIMB's sector top pick, driven by better earnings visibility in Singapore, improving efficiency in India and rising medical tourism revenue in Malaysia. CIMB maintains a buy rating on IHH and keeps the target price at MYR9.40. Shares are 0.6% higher at MYR8.57.(yingxian.wong@wsj.com)

(END) Dow Jones Newswires

December 21, 2025 21:16 ET (02:16 GMT)

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While the purchase supports Fortis' strategy to expand bed capacity in India, the share price reaction is likely to be muted, he reckons. However, IHH remains CIMB's sector top pick, driven by better earnings visibility in Singapore, improving efficiency in India and rising medical tourism revenue in Malaysia. CIMB maintains a buy rating on IHH and keeps the target price at MYR9.40. 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The acquisition's estimated earnings impact is limited to about 0.1% of IHH's 2026 forecast earnings and unlikely to affect IHH's net gearing, he says. While the purchase supports Fortis' strategy to expand bed capacity in India, the share price reaction is likely to be muted, he reckons. However, IHH remains CIMB's sector top pick, driven by better earnings visibility in Singapore, improving efficiency in India and rising medical tourism revenue in Malaysia. CIMB maintains a buy rating on IHH and keeps the target price at MYR9.40. 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