This Article is From May 02, 2015

Fortis to Sell RadLink Unit in Singapore for $83.5 Million

Fortis to Sell RadLink Unit in Singapore for $83.5 Million
Mumbai: Fortis Healthcare Ltd said it has agreed to sell its Singapore unit RadLink-Asia Pte Ltd to Fullerton Healthcare group Pte Ltd for S$111 million ($83.47 million).

The deal will be completed on or about May 12, Fortis Healthcare said in a statement on Friday.

The decision to sell RadLink, Fortis Healthcare's last major international business, is in line with its plan to focus on the hospital and diagnostic business in India, the Indian company's billionaire owners Malvinder Singh and Shivinder Singh said in the statement.

JPMorgan and India's Religare Capital Markets advised Fortis on the deal.

($1 = 1.3298 Singapore dollars)
© Thomson Reuters 2015