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NEWS | 23rd October 2023

TDM buy maternity hospital for RM15m, anticipates positive earnings impact

TDM Bhd is acquiring the entire stake in Hospital Bersalin Razif Sdn Bhd (HBR) for RM15 million in cash. 

The acquisition is facilitated through TDM’s wholly owned subsidiary, Kumpulan Medic Iman Sdn Bhd (KMI), which has entered into a share sale agreement with the owners of the private maternity hospital, Datuk Dr Mohd Razif Abdul Aziz and Datin Dr Norana Yacob. 

The plantation and healthcare company told the stock exchange today that it plans to finance the purchase with bank financing and expects the transaction to be completed in the second quarter of the following year. 

The company anticipates that this acquisition will have a positive impact on its future earnings. 

“The acquisition of HBR, a private maternity hospital situated in Klang, is a strategic plan for the expansion of KMI brand. This will create better economic value and earnings potential for TDM,” it said. 

At the time of writing, TDM’s shares remain unchanged at 16.5 sen, with a market capitalization of RM284 million. — TMR

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