[ad_1]
Fortis Healthcare Ltd (India) announced on Friday that it has accepted an investment offer from IHH Healthcare Bhd, Malaysia, closing a long period of calls for tenders for the control of the company. Company interested in national and international contenders. ] Fortis says that the IHH will invest 40 billion rupees ($ 584.11 million) at 170 rupees per share in the company that runs about thirty private hospitals in India, where the race to the # The growth of a private health care sector is accelerating. The offer is at a premium of 19.5% on the closing price of Fortis on Thursday.
Northern TK Venture Pte Ltd, a unit of the IHH, will receive 235.3 million new Fortis shares through a preferential allocation, giving it about 31% IHH declared in a separate statement that it expects the operation to be completed in the fourth quarter and does not expect that it will have a significant effect on the profits for the year. " fiscal year ending December 31st.
Recent developments in the health sector have made Fortis an attractive recovery target. Manipal Health Enterprises Ltd, together with private equity firm TPG Capital, and Radiant Life Care Pvt Ltd, supported by KKR & Co, also made an offer on Fortis
. insurance to hundreds of millions of people in a country that lacks adequate health facilities. According to analysts, the insurance plan should benefit private hospitals such as those run by Manipal and Fortis
Reuters
[ad_2]
Source link
