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Fortis Healthcare has surged 10% to Rs 134 after the company said decided to divest entire stake in healthcare service provider RadLink-Asia and its arm RadLink Singapore to Medi-Rad Associates for SGD 137 million (over Rs 655 crore).
“Fortis Healthcare Singapore Pte. Ltd., a subsidiary of Fortis Healthcare International Pte. Ltd., one of our step-down subsidiaries in Singapore, on Friday announced its decision to divest 100% shareholding in RadLink-Asia Pte Ltd and its subsidiaries, “RadLink”, Singapore, to Medi-Rad Associates Ltd (Medi-Rad), an indirect wholly-owned subsidiary of IHH Healthcare Berhad, for SGD 137,000,000,” Fortis Healthcare said in a press release.
RadLink is engaged in the provision of healthcare services including the provision of outpatient diagnostic and molecular imaging services in Singapore. The offer price is reflective of the value and efficiencies added by the Fortis group.
The deal will be successfully closed following the necessary statutory and regulatory approvals as per local requirement, it added.
The stock opened at Rs 128 and touched a 52-week high of Rs 136 on NSE. The trading volumes on the counter more than doubled with a combined 2.33 million shares changed hands in first 20 minutes of trade on NSE and BSE.
“Fortis Healthcare Singapore Pte. Ltd., a subsidiary of Fortis Healthcare International Pte. Ltd., one of our step-down subsidiaries in Singapore, on Friday announced its decision to divest 100% shareholding in RadLink-Asia Pte Ltd and its subsidiaries, “RadLink”, Singapore, to Medi-Rad Associates Ltd (Medi-Rad), an indirect wholly-owned subsidiary of IHH Healthcare Berhad, for SGD 137,000,000,” Fortis Healthcare said in a press release.
RadLink is engaged in the provision of healthcare services including the provision of outpatient diagnostic and molecular imaging services in Singapore. The offer price is reflective of the value and efficiencies added by the Fortis group.
The deal will be successfully closed following the necessary statutory and regulatory approvals as per local requirement, it added.
The stock opened at Rs 128 and touched a 52-week high of Rs 136 on NSE. The trading volumes on the counter more than doubled with a combined 2.33 million shares changed hands in first 20 minutes of trade on NSE and BSE.
