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Health Care

IHH Healthcare dragged down by goodwill impairment

Company records net first quarter loss of $75 million

KUALA LUMPUR -- IHH Healthcare said it had recorded a net loss of 320 million ringgit ($75 million) for the three months to March 31 compared to a net profit of 89.51 million ringgit in the same period last year. 

Asia's biggest hospital operator by market value, IHH said the loss was due to a goodwill impairment at Indian subsidiary Ravindranath GE Medical Associates Pte. and foreign-exchange losses.

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