Fortis Healthcare completes 51% acquisition in Fortis Hospotel

NEW DELHI: Fortis Healthcare has completed the acquisition of 51 per cent stake in Fortis Hospotel Ltd and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.

The company had earlier said that it was contemplating, "acquisition of 51 per cent economic interest in Fortis Hospotel Ltd by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd," Fortis Healthcare said in a BSE filing.

It had also mentioned that it was mulling acquiring compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre Ltd, by one of the company's wholly-owned subsidiary, Fortis Hospitals Ltd, it added.

These acquisition transactions were subject to approval of our shareholders, Singapore Exchange Securities Trading Ltd and unit holders of RHT Health Trust, Fortis Healthcare said.

The company has obtained the requisite approvals and "has subsequently closed the acquisition transaction...," Fortis Healthcare said.