BREAKING NEWS

Advertisement

Business

Updated on: Saturday, June 01, 2019, 02:05 AM IST

Fortis Healthcare to sell RadLink for Rs 530 cr

Advertisement

New Delhi : Wrapping up sale of its major international assets, Fortis Healthcare’s Singapore-based arm will offload 100 per cent stake in RadLink for SGD 111 million (over Rs 530 crore) to Fullerton Healthcare Group, reports PTI.

Fortis Healthcare International, a step-down subsidiary of Fortis Healthcare, announced its decision to divest 100 per cent shareholding in RadLink-Asia and its subsidiaries, the company said in a statement. The deal will be completed by May 12, it added. RadLink provides diagnostic and molecular imaging services.

In a joint statement, Fortis Healthcare Executive Chairman Malvinder Singh and Executive Vice Chairman Shivinder Singh said: “The significant value that we have created in our international healthcare businesses is now being unlocked and will be ploughed back to strengthen our growth in India.”

Advertisement

RadLink was acquired in 2012-13 and “the divestment of this last major international business is in line with our strategic decision to intensify our focus on our core hospital and diagnostics business in India,” they added.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Saturday, May 02, 2015, 12:08 AM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement