Companies

Fortis acquires Sri Lankan hospital

Fortis Global Healthcare Holdings on Friday said it has acquired 28.6 per cent in Lanka Hospitals Corporation Plc, a leading Colombo listed Sri Lankan hospital, for $36.3 million.

“Lanka Hospitals is the first step for Fortis Global to build its healthcare business interest in one of the fastest growing economies in Asia,” Fortis Global Healthcare Executive Chairman Malvinder Mohan Singh said in a statement.

“It is one of the most advanced and comprehensive healthcare facility in Sri Lanka. We believe there are tremendous opportunities for the hospital’s expansion and we will support the company's management in realising such growth,” he added.

“The acquisition is in line with Fortis Global Healthcare’s vision of creating a pan-Asia healthcare platform and provides an access to one of the fastest growing economies in Asia,” a company statement said.

Lanka Hospitals is a tertiary care healthcare delivery provider and currently one of the largest hospital groups in Sri Lanka. The 350 bed hospital is majority owned by Sri Lanka Insurance Corporation Ltd, a Government of Sri Lanka company.

Fortis Global Healthcare’s latest acquisition, the fourth in five months, marks an important step in achieving the group’s vision of creating a premier global healthcare group outside India. In the last four months, Fortis has acquired the largest private primary care company Hong Kong, invested in the largest dental care company in Australia and announced the acquisition of a cancer speciality hospital project in Singapore.

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Printable version | Apr 21, 2021 10:00:10 AM | https://www.thehindu.com/business/companies/Fortis-acquires-Sri-Lankan-hospital/article14934179.ece

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