Fortis divests stake in Singapore-based RadLink to Fullerton Healthcare for SGD 111 mn

Fortis Healthcare International Pte Ltd, a step down subsidiary of Fortis Healthcare Ltd based out of Singapore, has disinvested 100% shareholding in RadLink-Asia Pte Limited and its subsidiaries to Fullerton Healthcare Group Pte Limited for a consideration of SGD 111 million. RadLink is engaged in the provision of healthcare services including the provision of outpatient diagnostic and molecular imaging services in Singapore.
 
The deal is expected to be completed on or about May 12, 2015.
 
“RadLink was acquired in 2012-13 and the divestment of this last major international business in in line with our strategic decision to intensify our focus on our core hospital and diagnostics business in India. 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,” said Malvinder Singh, executive chairman, and Shivinder Singh, executive vice chairman, Fortis Healthcare Limited, in the press release.