KYM ventures into healthcare with RM33.5mil Regen deal
KUALA LUMPUR: KYM Holdings Bhd is proposing to acquire a 70 per cent stake in specialist healthcare provider Regen Healthcare Sdn Bhd for a maximum consideration of RM33.5 million, marking its entry into Malaysia’s healthcare sector.
KYM Holdings Bhd is eyeing a 70% stake in Regen Healthcare Sdn Bhd, a specialist healthcare provider, for a maximum consideration of RM33.5 million, expanding its presence in Malaysia's healthcare sector. This acquisition will shift KYM's primary focus from manufacturing to healthcare and specialized medical services, lessening its dependence on manufacturing.
Regen Healthcare offers specialized services, primarily orthopaedic and ambulatory care, and operates facilities such as a digital hybrid operating theatre, day-care beds, and multidisciplinary services including physical rehabilitation, pediatric dentistry, and special-care dentistry.
Regen founder and medical director, Associate Prof Dr Rajesh Singh, will retain a 30% stake and continue to be part of the business. KYM's executive chairman, Lim Tze Thean, stated that this acquisition comes after years of enhancing the group's financial standing. The proposed deal provides KYM with an opportunity to diversify its income sources through an established operating business in a sector that has long-term demand.
Chief executive officer Darren Lee highlighted that this investment was the result of four years of preparation, beginning with strengthening the company's balance sheet before identifying a suitable growth platform. The acquisition and the broadened diversification are still subject to specific conditions and approval from KYM shareholders during an extraordinary general meeting.
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