Fortis sells entire stake in Vietnam hospital chain for $80 mn
Fortis Healthcare today said it has completed the sale of its entire 65 per cent stake in Vietnam-based hospital chain Fortis Hoan My Medical Corporation for USD 80 million.
In June, the healthcare major Fortis Healthcare Ltd had entered into a pact to sell its entire stake in the Vietnamese hospital chain to Viva Holdings Vietnam.
Outperform on Fortis Health, target Rs 115
“The transaction has been concluded on August 20, 2013,” Fortis Healthcare said in a filing to the BSE.
In 2011, Fortis Healthcare International, a subsidiary of Fortis Healthcare, had acquired 65 per cent stake in Hoan My Medical Corporation for USD 64 million.
Established in 1997, Hoan My Medical Corporation is one of the Vietnam’s largest private healthcare provider groups, with 700 beds across five hospitals.
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