Thursday, June 13, 2013

FORTIS TO SELL VIETNAM HOSPITAL

Fortis Healthcare has entered into a pact to sell its entire stake in Vietnam-based hospital chain Fortis Hoan My Medical Corp to Viva Holdings Vietnam for over Rs 465 Cr. Fortis had acquired 65% stake in that company in 2011, paying little over Rs 350 Cr. Fortis Hospital is one of the few companies whose annual revenue is less than its equity.  As against Rs 405 Cr equity the total revenue for FY 13 was Rs 353 Cr.The stock is under-performer in the exchanges since it went public in 2007.

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