OUE has acquired the entire 19.32% stake held by its partner Itochu in OUE Healthcare at 2.4 cents per share, or just over $20.7 million.
The agreed transaction price is a slight discount off OUEH's last traded price of 2.6 cents on Dec 15.
Upon completion of the deal, likely on Dec 24, OUE's stake in OUEH will increase to 89.68%.
Back in 2018, Itochu invested $78.75 million in OUEH.
OUE says this transaction lets it raise its stake in OUEH at a discount to the market price.
It is also "in line with the group's commitment to the longer-term prospects of OUEH's healthcare business.
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"The transaction will also allow OUEH to focus on executing its longer term business plan with the firm support of its key stakeholder," says OUE.
OUEH, via a JV, owns a 60% stake in specialist healthcare chain O2 Healthcare Group.
It holds 27% in Healthway Medical Corporation, which runs over 130 clinics.
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In China, via JV or on its own, OUEH runs 3 hospitals while in Myanmar, it holds a 40% stake in the Pun Hlaing Hospitals.
OUEH is also the sponsor and 32%-owner of First REIT, which owns a portfolio of healthcare assets mainly in Indonesia.
