Bigger India

Malaysia’s IHH Healthcare To Own Over 30 Hospitals In India After Fortis Deal

IHH will get a 31 per cent stake in Fortis Healthcare through the preferential allotment of shares.

Malaysia’s IHH Healthcare Berhad is set to take control of Fortis Healthcare after its bid of up to Rs 7,300 crore for a 57 per cent stake in the hospital chain was chosen over that of rival Manipal group. The Fortis board of directors picked up IHH offer to infuse Rs 4,000 crore by way of subscription to preferential shares, over rival TPG-Manipal consortium’s offer that included Rs 2,100 crore infusion and merger of Manipal Hospitals with Fortis Healthcare.

Read it at Business Today

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