"OUE Lippo Healthcare (OUELH) is venturing into Myanmar with stake acquisitions in two joint venture companies that own three hospitals, one medical centre and two clinics. This will give the company presence in the key cities of Yangon, Mandalay and Taunggyi, the subsidiary company of OUE Limited said on Thursday. OUELH’s wholly owned units have signed a sale and purchase agreement with Waluya Graha Loka to acquire a 40 per cent stake in Yoma Siloam Hospital Pun Hlaing Limited (YSHPH), and a 35 per cent stake in Pun Hlaing International Hospital Limited (PHIH), for US$19.5 million in all. The vendor is considered an associate of Stephen Riady, the non-independent, non-executive director of OUE Lippo Healthcare. It is also an indirect wholly owned subsidiary of property company Lippo Karawaci. Both YSHPH and PHIH are joint venture companies with First Myanmar Investment (FMI), which is part of the enlarged Yoma Group that also comprises SGX-listed Yoma Strategic. FMI, which has businesses in real estate, health care, financial services, and tourism, is also the first company listed on the Yangon Stock Exchange..."