Fortis Healthcare (India) Ltd has acquired 85 per cent stake in Singapore-based diagnostic chain RadLink-Asia Pte Ltd for S$62.9 million (about Rs 250 crore). The acquisition was done through Fortis Healthcare International, a wholly-owned unit of the Indian company.
“The transaction provides Fortis Healthcare a strong foothold in the premium diagnostics and molecular imaging segment in one of South-East Asia's most attractive markets, besides providing a complementary platform to its upcoming specialty hospital on Adam Road in Singapore,” Fortis said in a notification to the stock exchanges.
RadLink operates in four business segments — diagnostic imaging, molecular imaging, cyclotron (radioisotopes manufacturing), and GP clinics.
Fortis now has 74 hospitals and 190 diagnostic labs across India and other Asian countries. This includes Quality Healthcare Ltd, a primary care network in Hong Kong with 580 centres; Dental Corporation Pty Ltd — a dental care network in Australia and New Zealand with 174 centres; Fortis Speciality Hospital, an under-construction speciality hospital in Singapore; a stake in 350-bed Lanka Hospitals Corporation, and the largest private pathology laboratory in the UAE.
Further, it recently announced the acquisition of a 65 per cent stake in Hoan My Medical Corporation, one of Vietnam's largest private healthcare provider groups with over 1,100 beds across six hospitals.