Health Management International

Health Management International: The $0.16/share voluntary conditional cash partial offer of 61m shares by Nam See Investment has been declared unconditional, after receiving acceptance of 136.5m shares in aggregate. The closing date of the offer will be on 28 Oct. The success of the partial offer by Nam See Investment would lift its combined interest (incl concert parties) to 52.2%. Thereafter, the offeror can effectively exercise statutory control over HMI, and will be free, subject to a six-month moratorium, to acquire further HMI shares without incurring any obligation to make a general takeover offer for the company. The offeror is owned by Gan See Hem and Chin Koy Nam, who are wife and husband. Gan is the Executive Chairman and Managaing Director of HMI, and Chin is an Executive Director of the company. HMI operates two hospitals in Malaysia – Mahkota Medical Centre in Malacca and Regency Specialist Hospital in Johor.