Fortis arm acquires Singapore's Radlink-Asia; shrs up

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Fortis arm acquires Singapore's Radlink-Asia; shrs up

Hospital chain operator Fortis Healthcare's offshore subsidiary Fortis Healthcare Singapore Pte has acquired 85% stake in Radlink-Asia Pte, an outpatient diagnostic and molecular imaging chain in the south east Asian nation for USD 62.9 million.

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Moneycontrol Bureau

Hospital chain operator Fortis Healthcare 's offshore subsidiary Fortis Healthcare Singapore Pte has acquired 85% stake in Radlink-Asia Pte, an outpatient diagnostic and molecular imaging chain in the south east Asian nation for 62.9 million Singapore Dollars.

Radlink has four main business segments -- diagnostic imaging, molecular imaging, radio-isotopes manufacturing and GP clinics, Fortis said on Wednesday.

"The transaction provides Fortis Healthcare a strong foothold in the premium diagnostics and molecular imaging segment in one of south east Asia's most attractive markets besides providing a complementary platform to its upcoming specialty hospital on Adam Road in Singapore," it said.

Fortis shares were up 2.8% at Rs 107.65 post the announcement in morning trade.