Fortis Healthcare buys its international unit

Fortis Healthcare (India) Ltd will buy Singapore-based sister firm Fortis Healthcare International in a move to bring all of the group’s health businesses under one firm, group Chairman Malvinder Singh said. Terms of the all-cash deal will be set by an independent valuer and the transaction will be closed by December, Singh told media persons. Both companies expect revenue of about $500 million each in the current fiscal year, including the listed firm’s recently-acquired Super Religare Laboratories, according to the company. The board of Fortis Healthcare has also approved a plan to buy out Fortis Healthcare International.

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