Malaysia’s IHH gives Indian healthcare a shot in the arm

Fighting off fierce competition from international competitors, IHH emerged victorious in the bruising battle to take control of Fortis Healthcare. Will the largest hospital takeover in India cure the ailing Fortis?

Following months of intense negotiations, private healthcare provider Fortis Healthcare has accepted a $582 million offer for a 31.1% stake from Malaysia’s IHH Healthcare, triggering a mandatory cash open offer for a further 26% equity interest in the beleaguered Indian healthcare giant.

Once a darling of investors both domestically and internationally, Fortis Healthcare has finally put six months of negotiations to bed after accepting a takeover bid from IHH Healthcare that values the company at $1.29 billion.

Fortis has been attracting attention for all the wrong reasons since its  intoxicating days ten years ago.

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