China Wah Yan Healthcare (00648) said it will restructure the Group's medical/healthcare related investments.
The company will acquire the attributable interest in a hospital project company from its 45%-owned subsidiary at HK$88.8 million. The Wah Yan Healthcare Group's effective interests in the hospital project company will be increased from 8.1% to 18%.
Wah Yan Healthcare will sell its 45% interest in the above subsidiary for HK$89.5 million. The subsidiary is also interested in a number of medical/healthcare related investments including 20% equity interest in an elderly nursing home in the PRC; a medical project involving the upgrading of a hospital in the PRC; and a development project comprising tourist, health preservation and elderly care zone in the PRC.
It is estimated that a loss of HK$900,000 will be recorded by the Group under the disposal.
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