Islamabad: Shifa International Hospitals Ltd. has announced a significant move to acquire full ownership of Shifa Medical Center Islamabad (Private) Limited (SMCI) by purchasing ordinary shares from existing minority shareholders. This decision was formalized at the company's Extraordinary General Meeting held on June 5, 2025.

According to the resolutions adopted during the meeting, Shifa International Hospitals Ltd. plans to purchase 105,814,336 ordinary shares of SMCI, each with a face value of PKR 10, for a total transaction amount of approximately PKR 1.666 billion. This acquisition aims to convert SMCI into a wholly owned subsidiary of the company.

The resolutions further authorize the company to negotiate the terms of the purchase with minority shareholders and execute necessary agreements, including share sale and purchase agreements and share transfer deeds. Shifa International Hospitals Ltd. is also tasked with notifying the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan regarding this transaction.

According to information available from the Pakistan Stock Exchange (PSX), the move is part of a strategic effort by Shifa International Hospitals Ltd. to consolidate its operations and enhance its market share in the healthcare sector. The resolutions empower Dr. Zeeshan Bin Ishtiaque, the company's CEO, to undertake all necessary actions to implement the acquisition, including statutory filings and obtaining regulatory approvals.

The company's leadership is authorized to engage with advisors and affix the company’s seal to documents as required. The resolutions will remain effective for eighteen months unless revoked or amended by another resolution.

The acquisition is poised to strengthen Shifa International Hospitals Ltd.'s position within the designated market category of healthcare services, as the company seeks to leverage synergies between its existing operations and the newly acquired SMCI.