Fortis Global Healthcare, has acquired an under-construction specialised cancer hospital in Singapore. The cost of the acquisition is estimated at SGD $33 million.
Fortis Healthcare group which has 50 hospital network in India, aims to complete the construction of the hospital by the second quarter of 2012 and the property was earlier held by First Real Estate Investment Trust, a Singapore listed healthcare real estate company, a company release said.
“The hospital plan is being redesigned to incorporate the needs of the patients and the medical fraternity in Singapore. The speciality focused healthcare group has an experience of multiple healthcare delivery models, including day care speciality surgical centres and is recognised for its patient centred approach," the release said.
The release further said,"The hospital would incorporate a new generation critical and intensive care service. Ideally located, this would be the first hospital around the Adam Road area.”
"We will continue to look for opportunities to further expand our presence in the region,” said Malvinder Singh, Executive Chairman Fortis Global Healthcare.
This is the third acquisition by Fortis in five months after acquiring controlling stake in Hong Kong-based Quality Healthcare, in November 2010 and Dental Corporation, in Australia in January 2011.
