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.
February 01, 2012 / 12:16 IST
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. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
