Sunway Healthcare Holdings Bhd is expanding its presence in Johor through the acquisition of four freehold land parcels in Sunway City Iskandar Puteri for RM45.37 million, as the healthcare group moves forward with its regional growth strategy.
The acquisition involves a total land area of approximately 9.918 acres and will support the company’s plans to strengthen its healthcare footprint in the southern region of Malaysia.
The transaction is carried out through a sale and purchase agreement between Sunway Healthcare’s 99.9%-owned subsidiary, Sunway Medical Centre Sdn Bhd, and three Sunway Group entities — Sunway Marketplace Sdn Bhd, Sunway Parkview Sdn Bhd and Sunway Iskandar Sdn Bhd.
The land purchase forms part of Sunway Healthcare’s broader expansion plans, following its earlier announcement to develop a 410-bed hospital in Iskandar Puteri with an estimated investment cost of RM781.6 million.
Sunway Healthcare said the proposed acquisition aligns with its strategy to expand its network of tertiary hospitals and increase access to specialised healthcare services across Malaysia.
“The proposed acquisition is in line with the group’s overall strategy to expand its network of tertiary hospitals,” the company said.
The group added that the development would extend its healthcare presence into Johor while addressing the growing demand for advanced medical services in the southern region.
“The proposed development expands the group’s footprint into the state of Johor, capturing unmet demand for tertiary healthcare in the southern region,” it said.
The transaction is classified as a related-party transaction due to the involvement of companies within the wider Sunway Group.
Sunway Marketplace Sdn Bhd and Sunway Parkview Sdn Bhd are wholly owned subsidiaries of Sunway Iskandar Sdn Bhd, which operates as a joint venture company under Sunway City Sdn Bhd. Sunway City is a subsidiary of Sunway Bhd (KL:SUNWAY), which is also a major shareholder of Sunway Healthcare.
The proposed acquisition is expected to be completed by the second quarter of 2027, with no shareholders’ approval required for the transaction.
Funding for the acquisition will come from a combination of internal funds and bank borrowings.
Sunway Healthcare continues to strengthen its position as one of Malaysia’s leading private healthcare operators. As of the end of March, the company’s total licensed beds had increased to 1,805 beds, while overall bed capacity stood at 1,982 beds across its healthcare network.
The Johor expansion reflects the growing demand for quality private healthcare services driven by population growth, economic development and increasing healthcare needs in the southern region.
As Iskandar Puteri continues to develop as a key economic and residential hub, Sunway Healthcare’s investment is expected to enhance healthcare accessibility while supporting the company’s long-term growth ambitions.
At market close on Wednesday, Sunway Healthcare shares declined three sen or 1.54% to RM1.92, giving the company a market capitalisation of approximately RM22.1 billion.
