Fortis to buy 65% stake in Vietnam hospital chain for $64 mln

Fortis Healthcare International, the Singapore-based holding company of India's billionaire Singh brothers, said today it will buy a 65% stake in Vietnam's Hoan My Medical Corp for $64 million.

Updated on: Aug 10, 2011, 10:32:35 IST

Reuters | By HT Correspondent, Singapore

Prefer HTon Google

Share via

Copy link

Fortis Healthcare International, the Singapore-based holding company of India's billionaire Singh brothers, said on Wednesday it will buy a 65% stake in Vietnam's Hoan My Medical Corp for $64 million.

Hoan My is one of Vietnam's largest private healthcare groups with 700 beds across five hospitals. It will open a new 200-bed tertiary care hospital in Ho Chi Minh City by November 2011.

Fortis Healthcare International has been on an acquisition spree since it was set up about a year ago, and now owns clinics and hospitals in several Asian countries including Australia, Hong Kong and Singapore.

The Singapore-based firm is held directly by brothers Malvinder Mohan Singh and Shivinder Mohan Singh, who are the main shareholders of India-listed Fortis Healthcare.

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.