GA will acquire about 51% stake held by existing investors - Eight Roads Ventures India, Evolvence India Fund and Somerset Indus Healthcare Fund. Besides the secondary transaction, GA will also acquire a small minority stake from the promoters along with a primary stake, sources said.
Adjunct to this transaction, the OPD and radio diagnostics business operations related to the Malar Hospital, including the land and building, and the adjacent land parcels, are also being divested by two wholly owned subsidiaries of Fortis Healthcare Ltd Fortis Health Management Ltd, and Hospitalia Eastern Pvt Ltd to MGM, it added. Fortis Malar Hospitals to Sell Malar Hospital in Chennai for Rs 45.5 Crore to MGM Healthcare.
Fortis Malar Hospitals Ltd has announced the sale of Malar Hospital in Chennai s Gandhi Nagar to MGM Healthcare Pvt Ltd for Rs 45.5 crore. The transaction includes the divestment of OPD and radio diagnostics business operations, land, building, and adjacent land parcels by Fortis Health Management Ltd and Hospitalia Eastern Pvt Ltd, wholly owned subsidiaries of Fortis Healthcare Ltd.