Asiri Hospital Holdings
A Sri Lankan private healthcare group operating hospitals, laboratories, diagnostics and related specialist medical services.
Last updated August 31, 2026
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Overview
Asiri Hospital Holdings PLC, formerly known as Asiri Hospitals PLC and operating its healthcare network under the Asiri Health name, is a Sri Lankan private healthcare company. It is described in reference material as the country's largest private healthcare provider and one of its largest listed hospital groups by hospital capacity and market capitalization. The group is part of Softlogic Holdings and operates a network of hospitals concentrated in Colombo and other major Sri Lankan cities. The company was incorporated in 1980, began operations in 1986 and was listed on the Colombo Stock Exchange during the same year. Its development has included acquisitions, internal reorganizations, hospital amalgamations, expansion into cancer care and the adoption of a common consumer-facing identity. A major early expansion step came in 2007, when the group acquired Asha Central Hospital and renamed it Asiri Central Hospital. Services associated with the former Cinnamon Gardens operation were subsequently transferred to the Central Hospital facility on Norris Canal Road in Maradana. Asiri's hospital network includes Asiri Central, Asiri Surgical and Asiri Medical in Colombo, together with Asiri Kandy, Asiri Galle and Asiri Matara. Collectively, the six hospitals provide more than 800 beds. The business also includes Asiri Laboratories, which reference material identifies as holding a substantial share of Sri Lanka's diagnostics market, as well as specialist facilities and related healthcare ventures. The group has participated in doctor-booking and digital healthcare initiatives, including the Doc990 platform developed with Dialog Axiata through a joint venture. The company's corporate structure has changed several times. In 2012, Asiri Surgical Hospital transferred a 32 percent interest in Asiri Central Hospitals PLC to Asiri Hospital Holdings as part of an internal restructuring. The central-hospital entity was subsequently delisted and renamed Asiri Centrals Hospital Limited. In 2015, TPG Growth acquired Actis's 28 percent stake in Asiri Hospitals. The broader group was rebranded as Asiri Health in 2016, bringing its hospitals under a more unified market identity. In 2017, the group sold half of its interest in Asiri AOI Cancer Centre to Cancer Treatment Services International. In 2018, Asiri Hospital Holdings acquired Hemas Galle Hospital from Hemas Holdings and later absorbed Asiri Hospital Kandy Ltd., which ceased to exist as a separate subsidiary. Quality accreditation has been an important part of the group's positioning. Four hospitals received accreditation from the Australian Council on Healthcare Standards International in 2020. Asiri presents itself as a broad private-sector healthcare platform rather than a single specialty provider, combining inpatient care, surgery, diagnostics, laboratories, cancer treatment and outpatient services. Its scale gives it a prominent role in Sri Lanka's private medical sector, although its operations have also included regulatory and tax-related disputes. The group marked thirty years of operations in 2014. In the 2020/21 LMD 100 ranking, Asiri Hospital Holdings was placed 57th among listed Sri Lankan companies by revenue.
History
Asiri Hospital Holdings was incorporated in Sri Lanka in 1980 and commenced healthcare operations in 1986, the same year in which it was listed on the Colombo Stock Exchange. The company developed as a private hospital operator and later became the holding company for a broader network of hospitals and healthcare businesses. Its expansion reflects the growth of private medical care in Sri Lanka and the increasing integration of hospital treatment with diagnostics, laboratories and specialist services. In 2007, Asiri Group acquired Asha Central Hospital. The hospital was renamed Asiri Central Hospital, while services associated with the earlier Cinnamon Gardens operation were transferred to the Central Hospital facility on Norris Canal Road in Maradana. This transaction strengthened Asiri's presence in Colombo and helped establish the central hospital as one of the group's principal facilities. A significant corporate reorganization took place in 2012. Asiri Surgical Hospital PLC transferred a 32 percent interest in Asiri Central Hospitals PLC to Asiri Hospital Holdings for LKR 1.82 billion. Following the restructuring, Asiri Central Hospitals PLC was delisted from the Colombo Stock Exchange and changed its legal name to Asiri Centrals Hospital Limited. The group celebrated thirty years of operations in 2014. Ownership changed again in 2015 when TPG Growth acquired Actis's 28 percent stake in Asiri Hospitals. In 2016, the group adopted Asiri Health as the common identity across its hospitals. The rebrand presented the business as a unified healthcare network rather than a collection of separately named facilities. The group continued to adjust its specialist and regional portfolio. In 2017, Asiri Hospitals divested a 50 percent interest in Asiri AOI Cancer Centre to Cancer Treatment Services International for LKR 212.5 million. In 2018, it acquired Hemas Galle Hospital from Hemas Holdings for LKR 450 million. The hospital had been commissioned in 2009 with 50 beds. During the same year, Asiri Hospital Kandy Ltd., a wholly owned subsidiary, amalgamated with the company and ceased to exist as a separate legal entity. By the period covered by the reference material, the group operated six hospitals: Asiri Central, Asiri Surgical and Asiri Medical in Colombo, plus Asiri Kandy, Asiri Galle and Asiri Matara. Their combined capacity exceeded 800 beds. Asiri Laboratories was also described as a major diagnostics business, with approximately 60 percent of the diagnostics market according to the cited material. The group joined Dialog Axiata and Asiri Hospital Holdings' Doc990 venture, a platform for arranging doctor appointments. Quality assurance became another visible element of the group's development. In 2020, Asiri Surgical, Asiri Medical, Asiri Galle and Asiri Matara received accreditation from the Australian Council on Healthcare Standards International. At the same time, the company faced a tax dispute involving Asiri Surgical Hospital. Sri Lanka's Inland Revenue Department imposed an LKR 1.5 billion assessment and alleged non-compliance with conditions attached to the hospital's Board of Investment agreement. The cited issue concerned the maintenance of a ward with at least ten beds and an outpatient unit for non-paying patients. Asiri remains a prominent Sri Lankan private healthcare group under Softlogic Holdings. Its business model combines hospital beds, surgery, outpatient treatment, diagnostic testing, laboratory services, cancer care and digital appointment access. In the 2020/21 LMD 100 ranking, Asiri Hospital Holdings was placed 57th among listed Sri Lankan companies by revenue. Reference material also states that Brand Finance valued the Asiri Health brand at LKR 2.45 billion and ranked it 42nd among Sri Lankan brands in 2022.
- 2020
International hospital accreditation
[1]Four Asiri hospitals received Australian Council on Healthcare Standards International accreditation.
- 2018
Hemas Galle Hospital acquisition
[1]Asiri acquired Hemas Galle Hospital and amalgamated its wholly owned Asiri Hospital Kandy subsidiary into the company.
- 2017
Cancer-centre stake divestment
[1]Asiri divested half of its interest in Asiri AOI Cancer Centre to Cancer Treatment Services International.
- 2016
Asiri Health rebrand
[1]The group introduced Asiri Health as the common brand identity across its hospitals.
- 2015
TPG Growth investment
[1]TPG Growth acquired Actis's 28 percent stake in Asiri Hospitals.
- 2014
Thirtieth anniversary
[1]The group marked thirty years of operations.
- 2012
Central hospital restructuring
[1]A 32 percent interest in Asiri Central Hospitals PLC was transferred to the holding company; the entity was later delisted and renamed Asiri Centrals Hospital Limited.
- 2007
Acquisition of Asha Central Hospital
[1]Asiri acquired Asha Central Hospital and renamed it Asiri Central Hospital.
- 1986
Operations begin and company is listed
[1]The company commenced operations and was listed on the Colombo Stock Exchange.
- 1980
Company incorporated
[1]Asiri Hospital Holdings was incorporated in Sri Lanka.
Products and positioning
A large, integrated private healthcare network serving Sri Lankan patients through hospitals, surgical facilities, diagnostics, laboratories and specialist care.
Private hospital · 2007
Asiri Central Hospital
A central Colombo hospital that became part of the Asiri network after the 2007 acquisition of Asha Central Hospital. The facility is associated with the group's central Colombo presence and forms one of the six hospitals contributing to the network's combined capacity of more than 800 beds.
Surgical hospital
Asiri Surgical Hospital
A Colombo-based hospital focused on surgical and related private medical services. It is one of the group's principal hospitals and has also been involved in the holding company's internal restructuring and a tax assessment by Sri Lanka's Inland Revenue Department.
Private hospital
Asiri Medical Hospital
A Colombo hospital providing general private healthcare and specialist medical services within the Asiri Health network. It was among the Asiri facilities that received Australian Council on Healthcare Standards International accreditation in 2020.
Private hospital
Asiri Kandy
The group's hospital serving Kandy and surrounding areas. The operating hospital remains part of Asiri's six-hospital network, although Asiri Hospital Kandy Ltd. was amalgamated into the company in 2018 and ceased to exist as a separate subsidiary.
Private hospital · 2009
Asiri Galle
A southern Sri Lankan hospital in Galle. It became part of the expanded Asiri regional network following the 2018 acquisition of Hemas Galle Hospital and was one of the facilities accredited by the Australian Council on Healthcare Standards International in 2020.
Private hospital
Asiri Matara
A hospital serving Matara and the surrounding southern region of Sri Lanka. It is one of the six hospitals operated under the Asiri Health identity and received international accreditation in 2020.
Diagnostics and laboratory services
Asiri Laboratories
The group's diagnostics and laboratory business, providing testing services linked to the wider healthcare network. Reference material characterizes Asiri Laboratories as a major participant in Sri Lanka's diagnostics market and attributes approximately 60 percent market share to the business.
Digital healthcare platform
Doc990
A doctor appointment booking platform developed through a joint venture involving Dialog Axiata and Asiri Hospital Holdings. The service connects patients with participating doctors and forms part of the group's broader digital healthcare activity.
Controversies
2016
Inland Revenue Department tax assessment
Sri Lanka's Inland Revenue Department imposed an LKR 1.5 billion assessment on Asiri Surgical Hospital and alleged that the subsidiary had failed to meet conditions in its Board of Investment agreement. The cited conditions included maintaining a ward with at least ten beds and an outpatient unit for non-paying patients.
Marketing campaigns
- 2016Asiri Health rebrand
Sri Lanka
The group introduced Asiri Health as a common brand identity across its hospitals, consolidating the presentation of its hospital network under one healthcare brand.
Outcome. The hospitals were presented as an integrated Asiri Health network rather than solely as individually named facilities.
Brand decisions
2020
Pursue international hospital accreditationOtherBackground
The group sought external validation of clinical and operational standards across its facilities.
Action taken
Asiri Surgical, Asiri Medical, Asiri Galle and Asiri Matara obtained accreditation from the Australian Council on Healthcare Standards International.
Aftermath
Four hospitals received international accreditation within the network.
2018
Acquire Hemas Galle HospitalM&ABackground
Asiri was expanding its regional hospital footprint in Sri Lanka.
Action taken
Asiri acquired Hemas Galle Hospital from Hemas Holdings for LKR 450 million.
Aftermath
The acquisition expanded the Asiri network in southern Sri Lanka.
Acquisition price. LKR 450 million (2018)
2017
Divestment of cancer-centre stakeM&ABackground
Asiri adjusted its ownership of the Asiri AOI Cancer Centre.
Action taken
The group divested a 50 percent interest in the centre to Cancer Treatment Services International for LKR 212.5 million.
Aftermath
Cancer Treatment Services International became a co-owner of the facility.
Divestment consideration. LKR 212.5 million (2017)
2016
Unify hospitals under Asiri HealthStrategyBackground
The group operated multiple hospitals with distinct facility names and sought a unified market identity.
Action taken
Asiri rebranded the group as Asiri Health across its hospitals.
Aftermath
The network gained a common consumer-facing brand.
2012
Internal restructuring of central-hospital ownershipStrategyBackground
The group reorganized ownership of its central hospital assets.
Action taken
Asiri Surgical Hospital transferred a 32 percent stake in Asiri Central Hospitals PLC to Asiri Hospital Holdings for LKR 1.82 billion, after which the entity was delisted and renamed Asiri Centrals Hospital Limited.
Aftermath
Ownership was consolidated within the holding structure.
Stake transfer value. LKR 1.82 billion (2012)
2007
Acquire and rename Asha Central HospitalM&ABackground
Asiri sought to expand its Colombo hospital network.
Action taken
The group acquired Asha Central Hospital and renamed it Asiri Central Hospital.
Aftermath
The acquisition strengthened Asiri's central Colombo hospital presence.
Sources1 sources
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