0400 GMT - IHH Healthcare stands to gain from its acquisition of Island Hospital in Malaysia, DBS Group Research analysts say in a research report. Since Island Hospital is the No. 1 medical tourism hospital in Malaysia and the second-biggest private hospital player in Penang, the acquisition will enhance IHH Healthcare's market position in Malaysia. The healthcare service provider expects synergies of more than MYR200 million to be realized over next five years, the analysts note. DBS lifts its 2024 and 2025 earnings estimates for the company by 66% and 47%, respectively. It raises the Singapore-listed stock's target to S$2.58 from S$2.18 and the Malaysia-listed stock's target to MYR8.50 from MYR7.60, keeping buy calls on both. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 02, 2024 23:01 ET (04:01 GMT)
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