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Fortis Healthcare Limited – Composite Scheme

Date : August 19, 2016

The board of directors of Fortis Healthcare Limited (Fortis Healthcare) has approved a composite scheme of arrangement and amalgamation which would result in the demerger of the company’s diagnostic business, primarily housed in its majority owned subsidiary SRL Limited (SRL), into another majority owned listed subsidiary, Fortis Malar Hospitals Limited (Fortis Malar), followed by SRL being merged into Fortis Malar as part of the same Composite Scheme.

The Composite Scheme also involves transferring the hospital business of Fortis Malar into Fortis Healthcare by way of slump sale for lump sum consideration and such transfer and demerger shall precede the amalgamation.

The composite scheme of arrangement and amalgamation will be subject to the various statutory and regulatory approvals

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