Fortis Healthcare shines on getting nod for acquiring Fortis Healthcare International

Fortis Healthcare (India) is currently trading at Rs 151.00, up by 3.90 points or 2.65% from its previous closing of Rs 147.10 on the BSE.

The scrip opened at Rs 149.00 and has touched a high and low of Rs 155.00 and Rs 146.10 respectively. So far 320620 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 176.95 on 11-Oct-2010 and a 52 week low of Rs 127.10 on 28-Jan-2011.

Last one week high and low of the scrip stood at Rs 155.25 and Rs 144.65 respectively. The current market cap of the company is Rs 5959.92 crore.

The promoters holding in the company stood at 81.50% while Institutions and Non-Institutions held 9.89% and 8.62% respectively.  

Fortis Healthcare (India) has received an approval for the acquisition of Fortis Healthcare International, from RHC Financial Services (Mauritius), a company owned by the promoters of Fortis Healthcare India. The board at its meeting held on September 19, 2011 has considered and approved the same. However, the valuation will be advised by an independent valuation agency, to be appointed by a committee of independent directors for the purpose.

The combined network will have over 74 hospitals with more than 12,000 beds, 580 primary care centers, 188 day care specialty centres, 190 diagnostic centres and a base of over 23,000 employees making it amongst the largest integrated healthcare delivery networks in Asia Pacific. This region also represents the fastest growing healthcare delivery market globally. Through this integration, the combined entity will benefit from size and scale while at the same time leverage its network spread across various countries with wider service delivery capabilities.

Fortis Healthcare (India) has demonstrated a decade of high growth in scaling its operations from a single hospital in 2001 to a network of 66 hospitals in 2011 and 190 diagnostic labs across India. It 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 Healthcare International, a Singapore based leading integrated healthcare delivery company with presence in nine countries including Hong Kong, Australia, New Zealand, Singapore, Sri Lanka, Dubai Vietnam, Mauritius and Canada to form one of the largest healthcare delivery networks in the Asia Pacific region.