Fortis Healthcare acquires Indian assets of RHT

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SME Times News Bureau | 17 Jan, 2019
Fortis Healthcare on Wednesday said that it has completed the acquisition of the entire portfolio of RHT Health Trust's Indian assets worth approximately Rs 4,666 crore.

"With the completion of the aforesaid, International Hospital Limited (IHL), Fortis Health Management Limited (FHML), Escorts Heart and Super Speciality Hospital Limited (EHSSHL), Hospitalia Eastern Private Limited (HEPL) and Fortis Hospotel Limited (FHTL) have become wholly-owned subsidiaries (direct or indirect) of the company," the company said in a statement.

"The subsidiary companies combined, own the entire portfolio of India assets held by RHT - comprising 12 clinical establishments, 2 operating hospitals, 1 clinical establishment under construction as well as 4 greenfield clinical establishments."

According to Fortis Healthcare, the transaction is "beneficial and will be value accretive" for the company and its shareholders as it would save significant clinical establishment fees.

"As a result, the aforesaid transaction is expected to result in significant improvement in the company's operating profitability i.e. EBITDA and cash flows," the statement said.