SINGAPORE – Singapore Press Holdings Ltd. (T39.SG) launched its foray into the health-care sector on Tuesday, buying a local nursing-home operator for 164 million Singapore dollars (US$117.8 million).
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SPH will buy all the shares and intellectual property of Orange Valley Healthcare Pte. Ltd. from KV Asia Capital Pte. Ltd., the publisher of the Straits Times newspaper said in a statement to Singapore Exchange, where it is listed.
Orange Valley operates nursing homes and provides ancillary services such as meal and catering services and physiotherapy and rehabilitation services. It also sells medical supplies and equipment.
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(END) Dow Jones Newswires
April 25, 2017 06:26 ET (10:26 GMT)