Fortis Healthcare’s listed subsidiary -- Fortis Malar Hospitals has sold its business operations pertaining to Fortis Malar Hospital located at No. 52, 1st Main Road, Gandhi Nagar, Adyar, Chennai on a slump sale basis to MGM Healthcare (MGM), on the terms and conditions as contained in the Business Transfer Agreement, entered into between the parties.
Besides, the company’s unlisted wholly owned subsidiary -- Fortis Health Management has sold business operations (OPD and radiology business operations) related to the Fortis Malar Hospital (including the land and building on which the Fortis Malar Hospital is situated), as a going concern, on a slump sale basis, and sale of land & building adjacent to Fortis Malar Hospital, to MGM Healthcare, on the terms and conditions as contained in the relevant Business Transfer Agreement/ Agreement to Sell, entered into between the parties.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning various countries.
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