Fortis completes Rs 4,650 cr acquisition of Singapore-listed RHT Health Trust assets

New Delhi: Fortis Healthcare on Tuesday said it has completed the acquisition of RHT Health Trust (RHT) assets. In February last year, Fortis had announced that it has entered into definitive agreements with RHT to acquire entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 crore. “The company has today consummated the transaction by acquisition of relevant sale securities and payment of required consideration,” Fortis Healthcare Ltd said in a regulatory filing. [caption id=“attachment_4452487” align=“alignleft” width=“380”]  A Fortis hospital building in New Delhi. Reuters[/caption] Consequently International Hospital Ltd, Fortis Health Management Ltd, Escorts Heart and Super Speciality Hospital Ltd, Hospitalia Eastern Pvt Ltd and Fortis Hospotel Ltd have become wholly-owned subsidiaries of the company, it added. The transaction was approved by an overwhelming majority of Fortis shareholders with a voting in favour of the transaction in excess of 99 percent, the company said. “The transaction is beneficial and will be value accretive for the company and its shareholders as it would save significant clinical establishment fees that Fortis currently pays,” it added. In addition, it provides Fortis full control over all the assets—hospitals enabling direct and more focussed management of the business, the company said.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.