Fortis Drops plan to sell stake in RHT Health Trust, RHTTM
New Delhi: Country's one of the leading super speciality hospital chain, Fortis Healthcare (FHL) has recently scrapped the plan to sell stakes in RHT Health Trust and RHT Health Trust Manager Pte Ltd (RHTTM). According to media reports, on June 15 Fortis decided to close the bidding and search process to explore the possibility of a sale of interest in RHT Health Trust and RHT Health Trust Manager Pte Ltd (RHTTM).
However, a couple of months ago FHL had initiated talks with potential buyers to sell its stake in Singapore listed RHT. Medical dialogues had earlier reported that a couple and a month after acquiring the assets of Religare Health Trust (RHT) for Rs 4650 crore, Fortis Healthcare Ltd. (FHL) had initiated talks with potential buyers to sell its stake in Singapore listed RHT. The sale proceeds were likely to be put back into the Fortis business in India in order to make it more successful.
Prior to this, Fortis had completed the acquisition of RHT Health Trust (RHT) assets and had entered into definitive agreements with RHT to acquire the entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 crore.
In an earlier filing to bourses, the company had said its group firm Fortis Healthcare International Ltd had commenced deliberations to explore the sale of interest in RHT and RHTTM.
“No firm proposal which is commercially viable was received and no agreement (binding or non- binding) has been reached with any of these parties in connection with the Potential Transactions or any other transaction involving RHT and/or RHTTM," FHL said.