Fortis to acquire controlling stake in Mauritius-based hospital for $7 million
Malvinder and Shivinder Singh-promoted Fortis Healthcare on Thursday informed that it will jointly acquire controlling stake in Mauritius-based hospital 'Clinique Darne' with CIEL Group for a total of $7 million.
A company official said that, Fortis, through its wholly-owned subsidiary Novelife Ltd, has tied hands with Mauritian group CIEL for buying a controlling stake in the overseas private hospital -- Clinique Darne -- with an investment of $3.5 million each.
Post acquisition, the hospital would be rechristened 'Fortis Clinique Darne' and it will become one of the most modern medical centres in Mauritius, combining the traditions of dedicated personal care with hi-tech facilities and offering wide range of general and specialized medical services in a caring and friendly environment.
Apart from this, Fortis has also taken over the operations and management of the hospital, where the company has plans to develop it into a large super specialty hospital of the country, where majority of the population is of Indian origin, as well as that of the neighboring nations.
Market experts believe that the decision to acquire the controlling stake in the Mauritian hospital was part of Fortis' plans to spread its footprints in developed countries and replicate its successful business model across the world.
In a separate release, Fortis has notified that it will raise Rs 1,000 crore through a rights issue in June this year.
It may be noted that, the company already got board approval for the rights issue of equity shares with warrants in December last year and has finalized the plan to launch it in June this year.
Recently, Hospital chain Fortis Healthcare reported a standalone net loss of Rs 1.63 crore for the third quarter ended December 2008.
