MUMBAI: Increasing its footprint in Asia, Fortis Healthcare has acquired a 29% stake in Colombo-based Lanka Hospitals Corp for around Rs 163 crore ($36.3 million). This comes close on the heels of the group's acquisition of a cancer hospital in Singapore last month.
Lanka Hospitals is a tertiary care healthcare delivery provider and one of the largest hospital groups in Sri Lanka. The 350-bed hospital is majority-owned by Sri Lanka Insurance Corporation, a Sri Lanka government company.
The acquisition is in line with Fortis Global Healthcare's vision of creating a pan Asia healthcare platform and provides an access to one of the fastest growing economies in Asia, a company statement said.
Malvinder Mohan Singh, executive chairman of Fortis Global Healthcare, said: "Lanka Hospitals is the first step for Fortis Global to build its healthcare business interest in one of the fastest growing economies in Asia. It is one of the most advanced and comprehensive healthcare facility in Sri Lanka. We believe there are tremendous opportunities for the hospital's expansion and we will support the company's management inrealising such growth".
Fortis Healthcare's latest acquisition, the fourth in five months, marks an important step in achieving the Singh family's vision of creating a premier global healthcare group outside India. In the last four months, Fortis has acquired the largest private primary care company Hong Kong, invested in the largest dental care company in Australia and announced the acquisition of a cancer speciality hospital project in Singapore.
source - timesofindia.indiatimes.com
No comments:
Post a Comment