Business Times

Softlogic to sell minor stake in new hospital

By Duruthu Edirimuni Chandrasekera

A minor stake in the new Central Hospital is likely to be sold to a blue chip company, according to sources at Softlogic, the owners of Asiri Group of Hospitals (Central Hospital’s holding company). “The 270-bed Central Hospital is slated to start operations by early next year and about 25% stake in the hospital was offered to the Templeton Fund Manager, Mark Mobius who was in the island recently but he was not interested,” one source told the Business Times.

He said Mr. Mobius was not interested not because it was a bad investment but due to the political uncertainty in the country and also the unclear forward direction. The stake is being offered in a bid to manage the hospital’s debt better.

“JKH is also a party that is interested,” he said, adding that there are other blue chips who are eyeing the hospital. Ashok Pathirage, Chairman Asiri Hospitals and Softlogic was not available for comment. The Asiri Hospitals Group currently owns three hospitals – Asiri Surgical, Asiri Hospital and Asiri Central – and the new one, is the the largest private sector hospital chain in the country. On Wednesday, Indian hospital chain Fortis Healthcare Ltd denied Indian media reports that it was in talks with Asiri to buy the local hospital chain.

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