Fortis Healthcare Ltd announced that the Board of Directors of the Company at its meeting held considered and approved execution by the Company of a term sheet containing an exclusivity arrangement, in relation to the proposed acquisition of the equity and financial securities, under RHT Health Trust for a combined enterprise value of approx. INR 4650 Crores (including RHT Debt of approx. Rs. 1152 crore) from the wholly-owned subsidiaries of RHT.
The board also approved major restructuring initiative aimed at consolidating the entire Indian assets portfolio.
“This restructuring is a significant initiative and will integrate RHT’s entire India-based asset portfolio into Fortis while also improving the overall financial health of the business,” says Bhavdeep Singh, CEO of Fortis Healthcare.