213 36. ACQUISITION AND DISPOSAL OF SUBSIDIARIES/BUSINESS (continued) Acquisitions of material subsidiaries in 2024 (continued) Acquisition-related costs The Group incurred acquisition-related costs of RM2 million and RM35 million during the year for Bedrock and Island Hospital respectively. The acquisition-related cost pertains to external legal fees, due diligence costs, valuation cost, stamp duty costs and other professional and accounting fees. The acquisition-related costs were included in ‘other operating expenses’ in profit or loss. Post-acquisition contributions to the Group For the ten months ended 31 December 2024, Bedrock contributed revenue of RM84 million and profit of RM13 million. For the two months ended 31 December 2024, Island Hospital contributed revenue of RM111 million and profit of RM23 million. If the above acquisitions had occurred on 1 January 2024, management estimates that consolidated revenue would have been RM24,929 million and consolidated profit for the year would have been RM3,247 million. Acquisitions of subsidiaries and business in 2023 (a) On 18 January 2023, Agilus acquired the business of Dr. Ponkshe Path Lab/Care Diagnostic Centre, a proprietorship firm, for a total consideration of INR109 million (equivalent to RM6 million). (b) On 14 February 2023, Acibadem Saglik Hizmetleri ve Ticaret A.S. (“ASH”) acquired the 100% equity interest in Ozel Kent Saglik Hizmetleri ve Malzemeleri Sanayi Ticaret A.S. (“Kent”) for a total consideration of EUR55 million (equivalent to RM236 million). Kent is a private healthcare operator in Izmir, Türkiye and it currently operates a 340-bedded Kent Hospital and 2 medical centres. Post completion of the acquisition, Kent has become a direct subsidiary of ASH, whilst Alsancak Ozel Kent Tıp Merkezi A.S. and Ozel Kent Radyoloji Goruntuleme ve Ticaret A.S. have become indirect wholly-owned subsidiaries of ASH. (c) On 1 April 2023, Agilus acquired the business of Deep Clinical Laboratory, a proprietorship firm, for a total consideration of INR62 million (equivalent to RM3 million). (d) On 10 April 2023, Agilus acquired the business of Life Line Laboratory, a proprietorship firm, for a total consideration of INR350 million (equivalent to RM19 million). (e) On 3 October 2023, Agilus acquired the business of Dr. Gajendra Yadav Pathology Lab, a proprietorship firm, for a total consideration of INR168 million (equivalent to RM10 million). (f) On 1 November 2023, Agilus acquired the business of Pathocare Laboratory, a proprietorship firm, for a total consideration of INR280 million (equivalent to RM16 million). (g) On 8 November 2023, Fortis acquired 9,990 equity shares representing 99.9% of the paid-up equity share capital of Artistery Properties Private Limited (“Artistery”) for a purchase consideration of INR99,900 (equivalent to RM5,594). On 16 November 2023, Artistery has allotted 32 million equity shares of Rs. 10 each by way of rights issue for consideration of INR320 million (equivalent to RM18 million). Artistery’s principal activity is acquiring, maintaining, improving, developing, and managing land. Consequent thereto, Artistery has become a direct subsidiary of Fortis, and an indirect subsidiary of IHH.
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