Harry buys Ishara’s Browns Healthcare for Rs. 1.6 b

Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC  announced, that it has acquired 100% control of Browns Health Care (Pvt) Ltd from Brown and Company PLC for an estimated Rs. 1.6 billion.

Notifying the Colombo Stock Exchange, Melstacorp PLC stated that its fully-owned subsidiary, Melsta Healthcare Colombo  Ltd has acquired the entire shareholding of Browns Health Care (Pvt) Ltd from Brown and Company PLC for a consideration of Rs.1.6 Billion on l9th February 2020.

Browns HealthCare (Pvt) Ltd is in the business of operating a multispecialty hospital under the brand of "Browns Hospitals" and wholly owns Browns Healthcare North Colombo (Pvt) Ltd.

Browns Hospitals, a fully-fledged 70 bed hospital in Ragama, is a subsidiary of the renowned Browns Group. This multi-speciality general hospital is equipped with the latest technology in medical diagnostics and advanced medical and surgical technology including CT and MRI scanning. It is the first in a chain of secondary care general hospitals and diagnostic centres, which are dedicated to provide state-of-the-art, personalised, integrated clinical care.

Browns Hospitals has a high profile medical team of well qualified and recognised visiting consultants in all specialties and in-house doctors along with a team of qualified nursing staff with both private and state sector experience. It is also the first hospital to receive ISO 9001:2015 certification for healthcare from the Sri Lanka Standards Institute. Reiterating its status of excellence, Browns Hospitals was also recognised with the prestigious award for ‘Best Multi-Speciality Hospital’ at the CMO Asia Awards Ceremony held in 2019 as part of the Sri Lanka Leadership Awards.

The Browns Group is one of Sri Lanka’s largest diversified conglomerates which is controlled by Ishara Nanayakkara, a dynamic business tycoon.

The Group manages a fast growing and valuable portfolio of brands across several key industry sectors, such as power generation; home and office solutions; agriculture and plantation support services; pharmaceuticals; investments; hospitality and leisure; marine and manufacturing; and healthcare.( Source -Ada Derana)