Fortis Healthcare in talks to buy controlling stake in Hoan My Medical Corp

05 Aug 2011 Evaluate

Fortis Healthcare India is in talks to buy majority stake in Hoan My Medical Corp, the Vietnamese hospital operator backed by Deutsche Bank AG. The shareholders of privately held Hoan My plan to sell more than 50% of the company in a deal that may value it at about $100 million. Further, the Ho Chi Minh City-based Hoan My operates five hospitals and two clinics in Vietnam and plans to open more hospitals in the country.

This acquisition would bolster Fortis's expansion in Asia, where the Economist Intelligence Unit forecasts healthcare spending per person will grow 55% between 2010 and 2015. The company recently unveiled its plan to launch six new hospitals in Southern and Western India. With these additions, Fortis marks its entry into four new cities i.e. Pune, Hyderabad, Indore and Jabalpur.

Fortis Healthcare (FHL) is engaged in running chain of hospitals. FHL started its hospital operations in 2001 through its flagship Mohali Hospital. The company has alliance with international partners such as Aetna, Bupa, Cigna, GMC Services, HTH Worldwide, Vanbreda and World Access. These alliance helps the company provide quality, cost effective healthcare, medical expertise, and related health services.

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