Fortis Malar Hospitals to sell Malar Hospital
Fortis Malar Hospitals Ltd on Friday said it will sell Malar Hospital at Gandhi Nagar in Chennai for Rs 45.5 crore to MGM Healthcare Pvt Ltd.
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New Delhi: Fortis Malar Hospitals Ltd on Friday said it will sell Malar Hospital at Gandhi Nagar in Chennai for Rs 45.5 crore to MGM Healthcare Pvt Ltd.
The company has signed a definitive agreement for the sale of its business operations pertaining to Malar Hospital at Gandhi Nagar, Adyar, Chennai, to MGM Healthcare (MGM), a prominent healthcare delivery service provider, Fortis Malar Hospitals Ltd said in a regulatory filing. The sale consideration is about Rs 45.5 crore, it added.
Adjunct to this transaction, the OPD and radio diagnostics business operations related to the Malar Hospital, including the land and building, and the adjacent land parcels, are also being divested by two wholly owned subsidiaries of Fortis Healthcare Ltd -- Fortis Health Management Ltd, and Hospitalia Eastern Pvt Ltd -- to MGM, it added.
