ISLAMABAD – Shifa International Hospitals Limited (PSX: SHFA) has approved the acquisition of 105.8 million shares of Shifa Medical Center Islamabad (SMCI), representing full ownership of the subsidiary, the company disclosed during an Extraordinary General Meeting (EOGM) held this week.
Currently, SHFA owns 56% of SMCI, while 40% is held by Interloop Holdings and the remaining 3% by other minority shareholders. The decision to acquire the remaining stake comes after a turnaround in SHFA’s core operations, which renewed the company’s focus on expansion after earlier plans were disrupted by the COVID-19 pandemic, macroeconomic instability, and steep currency devaluation.
According to the company’s management, full ownership is expected to improve operational and administrative efficiency, simplify the group’s structure, and offer tax benefits in the early years as SMCI is projected to post losses initially.
The acquisition is expected to cost Rs1.7 billion, in addition to Rs1.3 billion already invested. The hospital structure, which includes five floors and two basements, has received all required regulatory approvals.
Located just four kilometers from SHFA’s main facility in Islamabad, the new center is positioned to enhance patient care and internal logistics. The company also confirmed that the acquisition and subsequent operations will be funded entirely through internal cash flows, citing a healthy balance sheet and improving profit margins.
On its Faisalabad hospital project, SHFA stated that construction is progressing according to schedule, with operations expected to begin early next year.
