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Fortis Healthcare acquires 51% stake in Fortis Hospotel

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Fortis Healthcare has surged 11% to Rs 188 on the BSE in early morning trade following the company stating to have completed acquisition of 51% stake in Fortis Hospotel Ltd and having acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre Ltd.

Earlier on February 4,2016, the company engaged in healthcare facilities business had said that its board approved the acquisition of 51% economic interest in Fortis Hospotel Ltd, a subsidiary of the Religare Health Trust (RHT), by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd, Fortis Healthcare said in a BSE filing.
It also said that it was contemplating to acquire compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre Ltd, by one of its wholly-owned subsidiary, Fortis Hospitals Ltd.

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