Companies

Fortis Healthcare completes acquisition of Religare Health Trust's Indian Assets

Our Bureau New Delhi | Updated on January 16, 2019 Published on January 16, 2019

Fortis completes RHT asset-buy

Fortis Healthcare Limited (FHL) has bought out all Indian assets of RHT Health Trust (RHT) by paying ₹4, 666 crore.

The buy-out comes close at heels of Malaysian healthcare giant IHH-Berhad’s acquistion of majority stake in Fortis Healthcare. RHT is a business trust listed on Singapore Stock Exchange, comprising a diverse pool of retail and institutional shareholders. FHL now owns 27 per cent stake in RHT. For FHL, the deal was crucial as it saves substantial funds. With the completion of the aforesaid, International Hospital Limited, Fortis Health Management Limited, Escorts Heart and Super Speciality Hospital Limited, Hospitalia Eastern Private Limited and Fortis Hospotel Limited have become wholly-owned subsidiaries of the company, the filing further stated.

Meanwhile, RHT has proposed that a substantial part of the net proceeds received by it as consideration for the transaction shall be distributed to its unit-holders.

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Published on January 16, 2019
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