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September 22, 2011

Fortis Healthcare India to buy Singapore arm Fortis Healthcare International

Fortis Healthcare India will acquire Singapore-based sister firm Fortis Healthcare International in an all-cash deal from its promoters, Malvinder Mohan Singh and Shivinder Mohan Singh.

By admin-demo

Fortis Healthcare India will acquire Singapore-based sister firm Fortis Healthcare International in an all-cash deal from its promoters, Malvinder Mohan Singh and Shivinder Mohan Singh.

According to some merchant bankers, the deal could be worth around $1.5 billion, reports The Times of India.

The promoters hold 81.5% stake in Fortis Healthcare India.

The merged entity will own more than 74 hospitals, accounting for 12,200 beds, 580 primary health centres, 188 day-care speciality centres and 190 diagnostic laboratories.

The deal will enable the Indian entity to enter ten markets including Hong Kong, Australia, New Zealand, Sri Lanka, Singapore, Vietnam and the UAE.

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