Southern Link

November 6, 2006 (LBO) – Asiri Hospitals Ltd, currently at the centre of a takeover battle, announced plans on Monday to invest and develop a hospital in Matara. “The Company has entered into an agreement with Central Dispensary & Nursing Home Ltd, Matara to lease the premise for a period of 20-years,” Asiri Hospital’s Company Secretary, Secretaries & Registrars Ltd said.

Asiri plans to invest 50 million rupees to spruce up the Matara unit, which is due to open in March/April 2007.

The 50-bed Matara branch will have a surgical maternity and ICU facilities in addition to diagnostics including a CT scanner, the statement said.

Asiri Hospitals is in the limelight these days after business tycoon Harry Jayawardene™s Group controlled Sri Lanka Insurance Corp. (SLIC) last Friday picked up significant stakes in the hospital and its subsidiary, Asiri Surgical Hospitals.

With the help of Asiri’s recently ousted former owners, the Subasinghe family, SLIC now controls around 38 percent in the hospital.

The Subasinghe family were founder shareholders and directors of the Asiri Hospitals group until Softlogic, a firm in the electronics industry, wre