KUALA LUMPUR: KPJ Healthcare Bhd has inked a joint venture agreement with Yayasan Islam Perlis (YIP) to set up and operate a new hospital to be known as KPJ Perlis Specialist Hospital.
In a filing Monday, July 11, KPJ said its wholly owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB) had signed the agreement with YIP on July 11.
It said the JV would operate under the name Perlis Specialist Hospital Sdn Bhd, of which KPJSB would hold 60% equity interest while YIP would hold the remaining 40%.
KPJ said the JV company will have an initial authorised share capital of 25 million shares of RM1 each, o which YIP would subscribe 6.5 million shares payable in consideration for transfer of land to the company, while KPJSB would subscribe 9.75 million shares payable in cash.
KPJ said the proposed joint venture was in line with its objective to increase its network of hospitals to locations where private healthcare was in demand, and enlarge its customer base as well as other areas of healthcare services.