Hospital Sale

June 01, 2007 (LBO) – A private Sri Lankan hospital is offering to sell a prime property in a posh residential suburb of Colombo ahead of a move to a new location.

The hospital share closed up one rupee at 38 rupees on Friday. Asha Central Hospital has offered its current 291-perch land in Horton Place, Colombo 07 for sale to embark on a new 13-storey facility which will be put up down Norris Canal Road in Colombo 10.

The new 200-bed complex will include a coronary by pass surgery, kidney transplant and dialysis units, orthopaedic and eye surgery units as well as other modern facilities.

Apartment facilities for foreign patients (health tourism) will also be included in the new building, the management said in a statement.

At present, the hospital has 112 beds and occupancy of around 90 percent. Over 100 specialists also use the hospital to offer channelling services to out patients.

The BOI approved 3.5 billion rupee new hospital will be a fully owned subsidiary of Asha Central Hospital which is listed in the Colombo Stock Exchange.

Market analysts say the hospital, which was incorporated 60 years ago, could raise cash by rights issu