Fortis Healthcare jumps on arms acquisition of 85% stake in RadLink

01 Feb 2012 Evaluate

Fortis Healthcare (India) is currently trading at Rs. 107.75, up by 3.15 points or 3.01% from its previous closing of Rs. 104.60 on the BSE.

The scrip opened at Rs. 108.00 and has touched a high and low of Rs. 108.40 and Rs. 106.20 respectively. So far 30,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.50 on 27-Jul-2011 and a 52 week low of Rs. 81.00 on 28-Dec-2011.

Last one week high and low of the scrip stood at Rs. 108.75 and Rs. 99.70 respectively. The current market cap of the company is Rs. 4,365.00 crore.

The promoters holding in the company stood at 81.48% while Institutions and Non-Institutions held 6.13% and 12.39% respectively.

Fortis Healthcare (India) offshore subsidiary,  Fortis Healthcare Singapore has acquired 85% stake in RadLink-Asia (RadLink), an outpatient diagnostic and molecular imaging chain in Singapore, for a purchase consideration of S$62.9 million.

This transaction provides Fortis Healthcare a strong foothold in the premium diagnostics and molecular imaging segment in one of Southeast Asia's most attractive markets besides providing a complementary platform to its upcoming specialty hospital on Adam Road in Singapore.

Radlink has four main business segments; diagnostic imaging, molecular imaging, cyclotron (radio-isotopes manufacturing) and GP clinics.

Fortis Healthcare (India) is committed to clinical excellence and patient-centric healthcare, which is manifest in hospital design, patient services, medical programmes and the compassionate approach of medical and non-medical hospital staff. Fortis commissioned its first hospital in 2001 at Mohali, near Chandigarh, and has expanded its operations to become a network with an over 10,000 bed capacity across 68 hospitals.

Fortis Healthcare Share Price

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