Ceylinco Life take stake in Kings Hospital to enlarge footprint in healthcare sector

Ceylinco Life has entered into an partnership with Kings Hospital (Private) Ltd, Narahenpita through a major equity investment, thereby significantly enlarging the Company’s footprint in the healthcare sector and diversifying its investment portfolio.

The Company said this strategic investment has been made via a private placement with an option to further increase its holding in the 120-bed hospital. Ceylinco Life will take up proportionate representation in the Kings Hospital Board which will catalyse its next growth phase. Synergies between Ceylinco Life and Kings will enhance value for all stakeholders, theCompany said.

Ceylinco Life Chairman Rajkumar Renganathan said: “Globally, life insurers and healthcare providers have established strategic partnerships with each other to reap the inherent and complementary synergies. This strategic investment capitalizes on synergies, thus creating additional value for all stakeholders including Ceylinco Life policyholders. Ceylinco Life is already a leader in cancer treatment, with major investments in infrastructure and equipment and an impeccable record of success.

We have established strong links, affiliations and collaborations with numerous healthcare institutions including Apollo Hospitals of India and now Kings Hospital, Colombo, to widen access to affordable treatment and diagnostics,” Renganathan added.

“The acquisition of equity in Kings Hospital signals our serious intentions to increase Ceylinco Life’s presence in healthcare for the benefit of the people of Sri Lanka and as an investment strategy.”

The Company set up the first private sector radiation therapy centre in Sri Lanka for the treatment of cancer and installed the country’s first Linear Accelerator as well as the first TomoTherapy unit, the only facility in Sri Lanka.