IHC lodges preliminary offer document on SGX Catalist

Listing will benefit HMC shareholders.

In a release, Healthway Medical Corporation Limited (HMC) announced that it has crossed a new milestone in its investment in International Healthway Corporation Limited (IHC) with the lodgement of IHC’s preliminary offer document on the Catalist of the Singapore Exchange Securities Trading Limited (SGX-ST) today.

Said Mr Fan Kow Hin, Executive Chairman of HMC: “HMC has always endeavoured to seek out business strategies that explore new avenues for growth to maximise shareholder value. Through the listing of IHC, HMC shareholders will be able to enjoy a special dividend in the form of IHC shares and the opportunity to stay invested in a Pan-Asian healthcare provider in high growth markets such as Malaysia and the PRC. In the high growth Asian markets, HMC will continue to develop our strength in clinic networks and IHC will seek out large-format healthcare services and facilities. Notably HMC shareholders will become direct shareholders of two separately listed companies, namely HMC and IHC.

IHC, a Pan-Asian integrated healthcare services and facilities provider, is primarily focused on the resilient and high growth healthcare sector by providing healthcare services through the development, investment and management of medical real estate, healthcare-related assets and integrated mixed-use developments.

The portfolio of properties comprises 15 assets in its initial portfolio located in Malaysia, the People’s Republic of China and Japan. Under its initial portfolio, IHC is redeveloping its Wuxi Hospital, into an 800-bed hospital offering various retail facilities; and developing a medical and commercial centre in Dujiangyan, Chengdu. It also owns 12 Nursing Facilities in Japan located in Hokkaido, Nara, Kyoto and Nagano, managed by asset management company Cryxis; as well as the IHC KLCC Project, to be developed into an integrated mixed-use development with specialised medical suites, retail space and service residences, by 2016.