Fortis Healthcare Intl Buys 65% in Vietnam's Hoan My Medical For $64 Mn
Fortis Healthcare International will acquire 65% stake in Vietnam's Hoan My Medical Corporation for $64 Mn.
The deal is part of Fortis' plans to expand its healthcare business in Asia and Australia.
Hoan My has 700 beds across five hospitals. It will open a new 200-bed tertiary care hospital in Ho Chi Minh City by November 2011.
Transaction Reference: The Hindu Business Line
Singapore-based Fortis Healthcare International has been on an acquisition since last one year and now owns clinics and hospitals in several Asian countries including Australia, Hong Kong and Singapore.
Company is is promoted by Singh brothers - Malvinder Mohan and Shivinder Mohan, who are the main shareholders of Fortis Healthcare (India) Ltd.
This is Fortis' fifth acquisition in last one year. Last November, it acquired Quality Healthcare in Hong Kong for around Rs.882 Cr. This year, it bought 30% stake in Australia's dental heathcare chain Dental Corporation for Rs.450 Cr in Jan; then it acquired a specialised under construction cancer hospital in Singapore for Rs.115 Cr in Feb and in March it forayed into the Sri Lankan healthcare market by acquiring 28.6% stake in Lanka Hospitals Corporation Plc for $36.3 Mn (around Rs.160 Cr).
Fortis Healthcare (India) declared that it will open six novel hospitals in southern and western parts of the country, which could involve an investment of around Rs 1,050 crore.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 10/08/11 | Hoan My Medical Corp - Fortis Healthcare | M&A | Fortis Healthcare Limited | 62.51 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 18/05/12 | Private Equity | National Skill Development Corporation | Apollo Med Skills Limited | 0.67 | Completed |
| 16/05/12 | M&A | Piramal Healthcare Limited | Decision Resources Group | 635.00 | Completed |
| 14/05/12 | Private Equity | India Value Fund Advisors Private Limited | Manipal Hospitals | 93.28 | Planned |
| 14/05/12 | Private Equity | Equity Partners Fund SPC India | Avesthagen Limited | 60.00 | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Fortis Healthcare Limited | Malvinder Singh Shivinder Singh |
Escorts Heart Institute And Research Centre, Okhla Road. |
KMC Speciality Hospitals (India) Limited (Formerly Seahorse Hospitals) Pushpagiri Health Care Hospitals Private Limited Apollo Hospitals Enterprise Limited |
www.fortishealthcare.com |
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