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    • Fortis completes...

    Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore

    Farhat NasimWritten by Farhat Nasim Published On 16 Jan 2019 7:43 AM  |  Updated On 18 Aug 2021 8:26 AM



    In February last year, Fortis had announced that it has entered into definitive agreements with RHT to acquire entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 crore.


    New Delhi: Fortis Healthcare Tuesday said it has completed the acquisition of RHT Health Trust (RHT) assets.








    In February last year, Fortis had announced that it has entered into definitive agreements with RHT to acquire entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 crore."The company has today consummated the transaction by the acquisition of relevant sale securities and payment of required consideration," Fortis Healthcare Ltd said in a regulatory filing.

    Consequently, International Hospital Ltd, Fortis Health Management Ltd, Escorts Heart and Super Speciality Hospital Ltd, Hospitalia Eastern PVT Ltd and Fortis Hospital Ltd have become wholly-owned subsidiaries of the company, it added.


    Also Read: Fortis arm sells 15 lakh shares in RHT to Fortis Healthcare International Ltd



    The transaction was approved by an overwhelming majority of Fortis shareholders with voting in favour of the transaction in excess of 99 per cent, the company said.

    "The transaction is beneficial and will be value accretive for the company and its shareholders as it would save significant clinical establishment fees that Fortis currently pays," it added.

    In addition, it provides Fortis full control over all the assets -- hospitals enabling direct and more focussed management of the business, the company said.




    Also Read: Fortis sells 18.2 million units of RHT Health Trust
    Acquisitionacquisition of RHT assetsFortisFortis HealthcareFortis Healthcare International Ltdfortis latest newsHospital news in IndiahospitalsRHT assetsRHT Health Trust
    Source : PTI

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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