Sri Lanka’s Sunshine Healthcare acquires 21.9-pct stake in Doc990 operator

Dialog Axiata has reduced its controlling stake in Digital Health (Private) Limited, which operates the Doc990 digital health platform. According to a stock exchange filing reported by EconomyNext, Dialog’s combined holding fell from 64.66% to 44.66%, and Digital Health will cease to be a Dialog subsidiary.

Dialog’s wholly owned unit, Digital Holdings Lanka, sold 16.65% of Digital Health, equal to 3,747,132 shares, to Sunshine Healthcare Lanka for Rs. 312.17 million. It also sold 3.35%, or 752,868 shares, to Nawaloka Hospitals for Rs. 62.72 million after Nawaloka exercised a right of first refusal under the shareholders’ agreement.

Separately, Ceylon Hospitals, which operates Durdans Hospital, sold its full 5.26% stake—1,184,211 shares—to Sunshine Healthcare using tag-along rights. Sunshine Healthcare, a subsidiary of Sunshine Holdings, consequently holds 21.92% of Digital Health. Nawaloka’s shareholding rose to 12.12%; Asiri Hospital Holdings retains 13.33%, according to EconomyNext.

Dialog said the sale would partly realise its investment and bring in a strategic healthcare partner. Its chief executive said the partnership was expected to support Doc990’s growth by connecting its digital health services with Sunshine Healthcare’s pharmaceutical, distribution, manufacturing and retail operations. Digital Health is to be accounted for as an associate in Dialog’s consolidated financial statements under Sri Lanka Accounting Standards.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.