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Fortis Healthcare scales new high on divesting 64% stake in Dental Corporation

Fortis Healthcare Ltd. | Hospital & Healthcare Services | Healthcare | BSE: 532843 | NSE: FORTIS

17 Dec 2012 Evaluate

Fortis Healthcare is currently trading at Rs. 116.20, up by 7.20 points or 6.61 % from its previous closing of Rs. 109.00 on the BSE.

The scrip opened at Rs. 113.00 and has touched a high and low of Rs. 119.50 and Rs. 112.10 respectively. So far 208349 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 119.50 on 17-Dec-2012 and a 52 week low of Rs. 81.00 on 28-Dec-2011.

Last one week high and low of the scrip stood at Rs. 119.50 and Rs. 108.00 respectively. The current market cap of the company is Rs. 4416.72 crore.

The promoters holding in the company stood at 81.48 % while Institutions and Non-Institutions held 5.69 % and 12.84 % respectively

Fortis Healthcare - subsidiary - Fortis Healthcare International has decided to sell its 64 % stake in Dental Corporation Holdings (DC), Australia, to Bupa, for a consideration of Aus $270 million. The deal is expected to be completed in March 2013 subject to shareholder and regulatory approvals.

The DC divestment is in line with Fortis’s strategic decision to focus on healthcare in Asia including India and on developing, staffing, operating and managing healthcare assets that cater to complex clinical work at the higher end of the medical delivery value spectrum. The divestment will go towards further strengthening the Fortis balance sheet bringing it closer to its net debt to equity target ratio of 0.6.

Fortis had entered DC in Jan 2011 and has since added considerable value to the business growing it from 140 dental practices to 190 dental practices in Australia and New Zealand. The model however has remained confined to the two countries and in-spite of exploration and backing has found limited acceptance in other Fortis geographies, as originally envisaged.

Fortis Healthcare Share Price

889.75 15.45 (1.77%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Apollo Hospital Ent.	7699.05
Max Healthcare Inst	1006.90
Narayana Hrudayalay	1825.55
Aster DM Healthcare	688.30
Global Health	1089.55
View more..

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Fortis Healthcare scales new high on divesting 64% stake in Dental Corporation

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