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Kuala Lumpur, 1st August 2007. Kuwait Finance House (Malaysia) Berhad's Private Equity (KFH) arm announced the acquisition of 30% equity interest in Radlink Asia Pty Ltd (RLA) jointly with its strategic partner, Singapore Main-Board listed Pacific Healthcare Limited (PHH). KFH will acquire 60% equity interest in PHH's wholly-owned Synergy Healthcare Investment Pte Ltd (Synergy) which had exercised the option to acquire 30% equity interest in RLA. RLA is one of the largest independent diagnostic imaging and radiography service providers in Singapore and operates a chain of General Practitioner (GP) clinics.
The investment in RLA is the first joint investment for PHH and KFH which seeks to jointly expand their presence in the Asia healthcare sector. According to Mr. K. Salman Younis the Managing Director of Kuwait Finance House (Malaysia) Berhad, with the growing demand for high quality, reliable and preventive healthcare services regionally, the acquisition of RLA is part of the KFH plan to position itself in the growing segment in Asia. Going forward, KFH and PHH seek to support the strategic growth plan of RLA through expansion of services, network expansion, capital investments and strategic acquisition in Singapore and regionally. The move is expected to complement our investments in healthcare sector in India and Kuwait.
According to Dr William Chong, Chief Executive Officer of Pacific Healthcare, "Radlink is an important step to help launch our JV with KFH into the fast growing Asian healthcare sector. The diagnostic service business is one of the more efficient ways of extending and cementing our position as a premier healthcare services provider in the region. It will also raise greater awareness of our brand internationally." In February, PHH signed a Joint Venture Agreement with KFHMB to collectively invest up to SGD32 million either in cash or through injection of synergistic businesses, to establish new medical centers in Asia.
About Pacific Healthcare Holdings
Incorporated in 2001 in Singapore, Pacific Healthcare Holdings Ltd. is an integrated healthcare provider offering a comprehensive range of healthcare services, encompassing specialist medical care, general practice medicine, dentistry, health screening, wellness services as well as the operations of nursing homes, day surgery centres, and a psychiatric hospital. Its integrated network of healthcare services allows patients to be treated in a multi-disciplinary manner within the Group.
Pacific Healthcare aims to be the premier healthcare group in Singapore and Asia, renowned for its Care, Compassion and Medical Excellence. Through a team of more than 100 dedicated professionals and a wide network of clinics and facilities, it focuses on the total health and well-being of patients. Its core competencies include the field of aesthetic medicine, obstetrics & gynaecology, cardiology and dentistry.
Pacific Healthcare has operations in Singapore, Hong Kong, India and China. For more information, please visit PHH's website at www.pachealthholdings.com
About Kuwait Finance House
Incorporated in the State of Kuwait in 1977, Kuwait Finance House (KFH) is listed on the Kuwait Stock Exchange. A market leader in the Islamic banking industry in Kuwait, KFH is engaged in providing Islamic banking services, including consumer banking, real estate financing, lease financing, trade finance, direct investments and portfolio investing, all of which are conducted in strict compliance with Islamic law.
For the first half of 2007, KFH has achieved a total profit of US$869.08 million with total assets of US$27.94 billion. KFH has been accorded an upper medium grade (high creditworthiness) investment credit rating of ¿A2' by Moody's Investors Service, as well as ¿A+' by Standard & Poors and Capital Intelligence. Kuwait Finance House (Malaysia) Berhad (KFHMB) is a wholly-owned subsidiary of KFH and was officially opened on 17 February 2006.
KFH Private Equity (KFH) has also earlier secured two controlling deals, Vivus and SI Consolidated. KFH acquired 80% equity interest in Vivus, one of the leading cardiac care specialist centers in Bangalore and Goa. SI Consolidated, one the key precision engineering and metal part components manufacturers in SEA is 60.4% owned by KFH. KFH's plan is to support the growth of its investee companies into a strong and reputable market leader, that is able to provide quality goods and services to their customers. KFH has mapped out its strategy to expand in Asia Pacific region and focus in the healthcare, halal-food processing, education, retailing, consumer care, manufacturing and waste management sector. The Private Equity Fund has strong visibility on deals and is expected to further secure investments in its focus industries in China, Malaysia, Singapore and Philippines over the next 12 months.
For more information, please visit www.kfh.com.my
About Radlink Asia Pte Ltd
Radlink Diagnostic Imaging (S) Pte Ltd was established in 2002 as 100% subsidiary of Radlink Asia Pte Ltd which has 4 diagnostic centers and is one of Singapore largest diagnostic and radiology groups. The group is dedicated to providing the highest level of health screening and diagnostic imaging services.
The flagship imaging centers is located in Paragon Medical Center and has three other centers in Singapore. RLA also operates 9 GP clinic chains and plan to expand into health screening services.
Radlink offers a one-stop, comprehensive range of diagnostic and imaging services. The high technology diagnostic equipments are complemented quality services provided by qualified full time radiologists.
The investment in RLA is the first joint investment for PHH and KFH which seeks to jointly expand their presence in the Asia healthcare sector. According to Mr. K. Salman Younis the Managing Director of Kuwait Finance House (Malaysia) Berhad, with the growing demand for high quality, reliable and preventive healthcare services regionally, the acquisition of RLA is part of the KFH plan to position itself in the growing segment in Asia. Going forward, KFH and PHH seek to support the strategic growth plan of RLA through expansion of services, network expansion, capital investments and strategic acquisition in Singapore and regionally. The move is expected to complement our investments in healthcare sector in India and Kuwait.
According to Dr William Chong, Chief Executive Officer of Pacific Healthcare, "Radlink is an important step to help launch our JV with KFH into the fast growing Asian healthcare sector. The diagnostic service business is one of the more efficient ways of extending and cementing our position as a premier healthcare services provider in the region. It will also raise greater awareness of our brand internationally." In February, PHH signed a Joint Venture Agreement with KFHMB to collectively invest up to SGD32 million either in cash or through injection of synergistic businesses, to establish new medical centers in Asia.
About Pacific Healthcare Holdings
Incorporated in 2001 in Singapore, Pacific Healthcare Holdings Ltd. is an integrated healthcare provider offering a comprehensive range of healthcare services, encompassing specialist medical care, general practice medicine, dentistry, health screening, wellness services as well as the operations of nursing homes, day surgery centres, and a psychiatric hospital. Its integrated network of healthcare services allows patients to be treated in a multi-disciplinary manner within the Group.
Pacific Healthcare aims to be the premier healthcare group in Singapore and Asia, renowned for its Care, Compassion and Medical Excellence. Through a team of more than 100 dedicated professionals and a wide network of clinics and facilities, it focuses on the total health and well-being of patients. Its core competencies include the field of aesthetic medicine, obstetrics & gynaecology, cardiology and dentistry.
Pacific Healthcare has operations in Singapore, Hong Kong, India and China. For more information, please visit PHH's website at www.pachealthholdings.com
About Kuwait Finance House
Incorporated in the State of Kuwait in 1977, Kuwait Finance House (KFH) is listed on the Kuwait Stock Exchange. A market leader in the Islamic banking industry in Kuwait, KFH is engaged in providing Islamic banking services, including consumer banking, real estate financing, lease financing, trade finance, direct investments and portfolio investing, all of which are conducted in strict compliance with Islamic law.
For the first half of 2007, KFH has achieved a total profit of US$869.08 million with total assets of US$27.94 billion. KFH has been accorded an upper medium grade (high creditworthiness) investment credit rating of ¿A2' by Moody's Investors Service, as well as ¿A+' by Standard & Poors and Capital Intelligence. Kuwait Finance House (Malaysia) Berhad (KFHMB) is a wholly-owned subsidiary of KFH and was officially opened on 17 February 2006.
KFH Private Equity (KFH) has also earlier secured two controlling deals, Vivus and SI Consolidated. KFH acquired 80% equity interest in Vivus, one of the leading cardiac care specialist centers in Bangalore and Goa. SI Consolidated, one the key precision engineering and metal part components manufacturers in SEA is 60.4% owned by KFH. KFH's plan is to support the growth of its investee companies into a strong and reputable market leader, that is able to provide quality goods and services to their customers. KFH has mapped out its strategy to expand in Asia Pacific region and focus in the healthcare, halal-food processing, education, retailing, consumer care, manufacturing and waste management sector. The Private Equity Fund has strong visibility on deals and is expected to further secure investments in its focus industries in China, Malaysia, Singapore and Philippines over the next 12 months.
For more information, please visit www.kfh.com.my
About Radlink Asia Pte Ltd
Radlink Diagnostic Imaging (S) Pte Ltd was established in 2002 as 100% subsidiary of Radlink Asia Pte Ltd which has 4 diagnostic centers and is one of Singapore largest diagnostic and radiology groups. The group is dedicated to providing the highest level of health screening and diagnostic imaging services.
The flagship imaging centers is located in Paragon Medical Center and has three other centers in Singapore. RLA also operates 9 GP clinic chains and plan to expand into health screening services.
Radlink offers a one-stop, comprehensive range of diagnostic and imaging services. The high technology diagnostic equipments are complemented quality services provided by qualified full time radiologists.
