India’s Fortis Healthcare Ltd has decided to sell its stake in Singapore based healthcare unit RadLink-Asia Pte Ltd to Fullerton Healthcare group Pte Ltd for S$111 million ($83.47 million or Rs 530 crore). Fortis has announced in a statement that the deal will be completed on or about May 12.

The owners of Fortis Healthcare, Malvinder Singh and Shivinder Singh have announced that they have taken the decision to sell RadLink to focus on the hospital and diagnostic business in India. JP Morgan and Religare Capital Markets acted as financial advisors to Fortis for this transaction.

Fortis Healthcare

• Fortis Healthcare Limited is an established chain of super speciality hospitals based in Delhi, also available in many parts of India.
• Fortis Healthcare was founded in 2001 and its Headquarters is in New Delhi.