Hemas eyes state-owned Lanka Hospitals Corporation

Sri Lanka’s diversified conglomerate Hemas Holdings has expressed interest in acquiring a stake of state-owned Lanka Hospitals Corporation.

In a stock exchange filing the company said they noted the interest expressed by the Government in disposing of shares in ventures such as Lanka Hospitals Corporation PLC.

“Hemas as a group has been exploring opportunities in the sectors that we operate in,” the company said.

Hemas Holdings have been in the healthcare sector with Hemas Hospitals since the launch of their first hospital in Wattala in 2008.

“We have therefore, expressed our interest in pursuing this opportunity once the government initiates the official process,” the company said.

As at the end of last year, 54.61 percent of Lanka Hospitals Corporation was owned by Sri Lanka Insurance Corporation and 28.66 percent was owned by Fortis Global Healthcare Holdings private limited.

Lanka Hospitals Corporation posted a net profit of 510 million rupees for the last year compared to 677 million rupees recorded in the previous year.

Basic earnings per share of Lanka Hospitals Corporation which commenced operations in 2002, under the name of Apollo Hospitals was 2.28 rupees in 2014.

The Government is to exit partially or fully from investments in Lanka Hospitals, Colombo Hilton, Hyatt Residencies, Waters Edge, Grand Oriental Hotel, Ceylinco Hospital and Mobitel by listing such investments in the CSE during 2016.

Courtesy LBO

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