Fortis Healthcare, one of the country’s largest healthcare companies, has entered into an agreement with Viva Holdings Vietnam, a wholly owned subsidiary of Chandler Holdings and a Chandler Corporation company, to sell its entire stake in Fortis Hoan My Medical Corporation (Hoan My), Vietnam, for a total consideration of $80 million.
The offer price provides a premium to the purchase price paid by Fortis for the acquisition of Hoan My. The transaction is EPS accretive to Fortis Healthcare and post this divestment the net debt to equity ratio of the company is expected to go down to less than 0.6 times.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care speciality and hospitals, with a healthcare network spanning 9 countries.
