Billionaire Harry Jayawardena to ‘Switch Back’ to Healthcare via Melstacorp

August, 21, 2018

Once a lost opportunity when country’s largest insurer ‘Sri Lanka Insurance Corporation’ ownership was reversed, which resulted in his control and ownership being cut by a larger stake in Sri Lanka’s Apollo Hospitals (Now Lanka Hospitals); a recent Colombo Bourse disclosure revealed Sri Lankan billionaire tycoon Harry Jayawardena is gearing up again to taste the healthcare business revenue, through his new conglomeration brand ‘Melstacorp’.

 

Accordingly in a disclosure to Colombo Stock Exchange (CSE) today (21st August 2018) Harry Jayawardena controlled Melstacorp PLC said that company wishes to announce that the it will be entering into the health care industry shortly through subsidiaries incorporated to undertake such activities.

 

“This would involve management of hospitals, operating diagnostics centres and involvement in related healthcare institutions as and when the opportunity arises” the disclosure said adding that the initial imitative would involve in setting up the diagnostic infrastructure and management of selected hospitals.

 

“We have incorporated a holding company namely Mesta Health (Private) Ltd through which investments in health related fields would be made” the disclosure noted adding that further disclosure would be made to the CSE as and when other plans are finalized.

 

The filing said that the investment in the healthcare industry as envisaged in the initial initiatives mentioned above do not amount to a major transaction of the company as defined in section 185 of the companies Act No. 7 of 2007.  

 

Reporting by Devendra Francis

 

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