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Media Room

Fortis Completes Sale of its Singapore Hospital to Concord Medical Services (International) Pte Ltd Receives SGD 55 Mn

Date : April 07, 2015

Fortis Healthcare International Pte Ltd, a step down subsidiary of Fortis Healthcare Ltd (Fortis), said today, that it has received the sum of SGD 55 Mn from the sale of its Singapore hospital to Concord Medical Services (International) Pte Ltd (CCM). With this, the deal announced on March 27th 2015, now stands completed.

This brings Fortis to the last leg of its international divestments which the company had committed to nearly eight quarters ago, while reiterating its focus on India

J. P. Morgan and Religare Capital Markets acted as financial advisors to Fortis for this transaction.

About Fortis Healthcare Limited

Fortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Singapore, Dubai, Mauritius and Sri Lanka with 54 healthcare facilities (including projects under development), approximately 10,000 potential beds and 260 diagnostic centres. In a global study of the 30 most technologically advanced hospitals in the world, its flagship, the Fortis Memorial Research Institute’ (FMRI), was ranked No.2, by ‘topmastersinhealthcare.com, and placed ahead of many other outstanding medical institutions in the world.

DISCLAIMER

This press release may contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Company may alter, modify or otherwise change in any manner the content of this press release, without obligation to notify any person of such revision or changes.

For information please contact:

Raghu Kochar
Corporate Communications
Fortis Healthcare Ltd.
+91-9811617256
raghu.kochar@fortishealthcare.com

Anurag Kalra
Investor Relations
Fortis Healthcare Ltd.
+91-9810109253
anurag.kalra@fortishealthcare.com

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