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).
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.
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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)