Fortis Healthcare to demerge diagnostics business( 15:00, 22-Aug-16)
Fortis Healthcare has received its board’s approval to demerge its diagnostics business, including the business of its majority owned subsidiary SRL into another listed entity, Fortis Hospitals. Following the demerger, the business of SRL will be merged with the Fortis Malar as part of the composite scheme. The move will separate the company’s diagnostic and healthcare businesses and unlock value for shareholders.
Fortis Healthcare and Fortis Malar are listed entities and the idea is to consolidate all the hospital businesses under former and move the diagnostics business to the latter, subject to statutory and regulatory approvals. The hospitals and the diagnostics businesses operate on different models and each has strong growth opportunities.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.Powered by Capital Market - Live News