Fortis acquires majority stake in Singapore's RadLink-Asia for Rs245 crore
01 February 2012
Fortis Healthcare, owned by billionaire brothers Malvinder and Shivinder Singh, today acquired a majority stake in Singapore's RadLink-Asia Pte Ltd, a diagnostics and molecular imaging company, for S$62.9 million (Rs245 crore).
Fortis Healthcare, through its offshore subsidiary, Fortis Healthcare Singapore Pvt Ltd, acquired an 85 per cent stake in RadLink-Asia from Pacific Healthcare, Kuwait Finance House and other shareholders.
Pacific Healtchare's associate company - Synergy Healthcare Investments sold its 20 per cent stake in RadLink to Fortis for S$5.88 million.
Pacific Healthcare and Kuwait Finance House had, in 2007, jointly acquired a 30 per cent stake in Radlink Asia for S$7.26 million.
RadLink-Asia is a provider of diagnostic imaging and radiography services, which include MRI, CT, X-ray, Ultrasound, Mammography, Fluoroscopy, Bone Mineral Densitometry scans, and PET/CT and general nuclear medicine SPECT scans.
RadLink-Asia will provide its services to Fortis Healthcare's upcoming specialty hospital in Singapore.