Symphony International (SIHL) has announced that it has fully exited its investment in IHH Healthcare Berhad (IHH), which it describes as one of the largest healthcare providers in the world by market capitalisation with 15,000 beds across 80 hospitals in 10 countries.
SIHL invested approximately US$50m in Integrated Healthcare Hastaneler Turkey Sdn Bhd (IHT) in February 2012 that was converted into shares in IHH at the time of IHH’s initially public offering later the same year. SIHL exited the shares in IHH through a series of partial sales since 2015 that has generated an annualised return of 11.2% over a period of approximately eight years or 1.8 times the cost of investment.
Anil Thadani, a director of SIHL, noted: “Symphony completed another successful exit that has provided strong risk adjusted returns. The healthcare sector in Asia remains attractive and we will continue to explore new opportunities to strategically build on our portfolio.”
SIHL invests in consumer related businesses, primarily in the healthcare, hospitality, lifestyle (including branded real estate developments), logistics and education sectors predominantly in Asia. It offers a way for investors to gain exposure to rising disposable incomes and wealth in fast growing economies. SIHL’s objective is to provide capital growth by investing in high quality companies and form long-term business partnerships with talented entrepreneurs and management teams.
SIHL: Symphony International exists IHH investment with returns of 1.8x original cost