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Fortis completes sale of its Singapore hospital to Concord

By Religare

Multi-specialty hospitals chain operater Fortis Healthcare Ltd on Tuesday said it has completed the sale of its Singapore hospital to Concord Medical Services (International) Pte Ltd after receiving a sum of SGD 55 million.

"Fortis Healthcare International Pte Ltd, a step down subsidiary of Fortis Healthcare Ltd has received the sum of SGD 55 Mn from the sale of its Singapore hospital to Concord Medical Services (International) Pte Ltd (CCM)," Fortis said in a filing to the Bombay Stock Exchange on April 7, 2015.


"With this, the deal announced on March 27, 2015, now stands completed," it added.

The company said that J P Morgan and Religare Capital Markets acted as financial advisors to Fortis for the transaction.

The 31-bed Fortis Surgical Hospital was opened in July 2012.

After hitting a 52 week high, shares of Fortis Healthcare Ltd were trading at Rs 180.60 apiece, up 2.41 per cent, from previous close on BSE at 14:52 hours.

Story first published: Tuesday, April 7, 2015, 23:00 [IST]
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