The Jakarta Post | Mon, 11/15/2010 2:31 PM
Lippo Karawaci will pay $26 million for a controlling 79.61 percent stake in Balikpapan Husada Hospital, the property firm said in a statement released on Monday.
The hospital will be upgraded with 200 beds, 40 outpatient suites and three operating rooms specializing in neurosurgery, cardiology, orthopedics and emergency trauma.
“The aim is to serve the needs of the people of this resource-rich province who currently must go all the way to Singapore for treatment,” Karawaci said in the statement.
The hospital - the sixth operated by Karawaci - will serve East Kalimantan, which is home to companies such as Pertamina, Petrosa, Adaro, France's Total S.A., the US' Chevron Texaco and Australia's Theiss.
The newly acquired hospital would provide the company a six percent revenue boost in 2011, Karawaci said.
Just two weeks ago, Karawaci announced the $18 million acquisition of a hospital in Jambi, East Sumatra, and said it planned to acquire more hospitals.
Karawaci said it expected post-acquisition hospital revenue to grow by more than 42 percent in 2011. (est)
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