Fortis Healthcare Singapore, a subsidiary of Fortis Healthcare International, has announced its decision to divest 100 per cent shareholding in RadLink-Asia and its subsidiaries, ‘RadLink’, Singapore, to Medi-Rad Associates (Medi-Rad), an indirect wholly-owned subsidiary of IHH Healthcare Berhad, for SGD 137,000,000. RadLink is engaged in the provision of healthcare services including the provision of outpatient diagnostic and molecular imaging services in Singapore. The deal will be successfully closed following the necessary statutory and regulatory approvals as per local requirements.
Malvinder Singh, Executive Chairman, and Shivinder Singh, Executive Vice Chairman, Fortis Healthcare, said, “This is in line with our strategic decision to intensify our focus on our core hospital and diagnostics business in India. Our international healthcare businesses have all done well. The significant value that we have created, is now being unlocked and will be ploughed back to strengthen our growth in India. Singapore will always remain strategic and integral to our business plans for the future. We are committed to grow the relationships and partnerships that we have established here, the most prominent being our association with the Economic Development Board of Singapore (EDB) and the SGX listed Religare Healthcare Trust.”
JP Morgan and Religare Capital Markets acted as financial advisors to Fortis for this transaction.
EH News Bureau
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