NEW DELHI: Fortis Healthcare, one of the leading Indian healthcare chain is set to vertically demerge its diagnostic chain—SRL Diagnostics that will help the company getting listed on the Indian bourses. The move aimed at giving an exit route to the private equity Investors, who together own 34% stake in the company, two people familiar with the development said. To give exit to some of the PE firms – International Finance Corporation, NYLIM Jacob Ballas and Avigo Capital Partners, SRL Diagnostics care had appointed Moelis & Co as advisor to facilitate the transaction in 2015. The announcement is expected after today board meeting. Fortis Healthcare spokesperson declined to comment. Some of the leading PE firms such as Baring Asia, Capital International and Bain Capital were in serious discussion to acquire stakes from the existing investors and even to increase it to majority. "The deal could not materialized due the valuation difference," said the first person … [Read more...] about Fortis Healthcare to vertically demerge SRL Diagnostics
NEW DELHI: SRL Diagnostics’ demerger from Fortis Healthcare has been deferred yet again after the Supreme Court’s order directing promoters Malvinder and Shivinder Singh to maintain the status of shareholding of one of their companies’ in the hospital chain. The National Company Law Tribunal (NCLT) in Chandigarh, expected to make a decision on the demerger, will now hear the matter in early October. Plans to separate SRL from parent company Fortis through a scheme of arrangement and amalgamation are not blocked as of now and the matter is under consideration by NCLT, a Fortis Healthcare Ltd spokesperson told ET. The tribunal is also hearing arguments by Japanese drug maker Daiichi Sankyo to block this demerger and has not made any final decisions on their intervention either. Following the SC directions to maintain status quo with regards to Fortis Healthcare Holding Pvt Ltd’s shareholding in Fortis Healthcare Ltd for four weeks, NCLT has decided to defer the … [Read more...] about SRL Diagnostics’ demerger from Fortis Healthcare deferred yet again
Moneycontrol News Fortis Healthcare's decision to buy the entire India portfolio of assets held by Singapore listed Religare Health Trust (RHT) aimed at simplifying the current structure hints at speeding up of possible stake sale.As per the definitive agreement – Fortis has agreed to buy the Indian portfolio of assets at an enterprise value of Rs 4,650 crore. A debt to the tune of Rs 1,152 crore of RHT will be transferred to Fortis balance sheet, as part of the deal.Fortis said the proposed acquisition is aimed at consolidating the entire Indian portfolio.Close “With the unwinding of the current structure, it would also make it easier for investors and other stakeholders to better understand the Company's business and financial performance,” Fortis said in a statement. related news Aditya Birla Fashion and Retail Q2 net loss at Rs 2.35 crore Jaypee Infratech insolvency: Lenders to meet on Nov 18 to comply with SC direction VA Tech WABAG posts consolidated … [Read more...] about Does Fortis Healthcare restructuring hint at possible sale?
Photo: PRWeb Photo: PRWeb Image 1 of / 1 Caption Close Image 1 of 1 Photo: PRWeb Aeroflow Healthcare Appoints Eric Mongeau as National Sales Director 1 / 1 Back to Gallery Mongeau to leverage experience and relationships in the space to lead sleep and respiratory divisions’ continued national growth. ASHEVILLE, N.C. (PRWEB) November 12, 2019 Aeroflow Healthcare, a leading durable medical equipment provider and Inc. 5000 fastest growing company, today announced the appointment of Eric Mongeau as the National Sales Director of its sleep and respiratory divisions. Mongeau will directly manage outside sales teams to drive business development and growth, and oversee the expansion of Aeroflow’s patient base through referrals and strategic … [Read more...] about Aeroflow Healthcare Appoints Eric Mongeau as National Sales Director
Photo: PRWeb Photo: PRWeb Image 1 of / 1 Caption Close Image 1 of 1 Photo: PRWeb Traliant Announces Code of Conduct Training for Healthcare Employees 1 / 1 Back to Gallery Traliant, an innovator in online sexual harassment training, today announced the availability of a new training course, Healthcare Code of Conduct. The interactive course is designed to educate employees on key laws and regulations affecting the healthcare industry, and reinforce standards of ethical behavior. MANHATTAN BEACH, Calif. (PRWEB) November 12, 2019 Traliant, an innovator in online sexual harassment training, today announced the availability of a new training course, Healthcare Code of Conduct. The interactive course is designed to educate employees on key laws and regulations … [Read more...] about Traliant Announces Code of Conduct Training for Healthcare Employees