Fortis Healthcare eyes S'pore realty investment trust

Indian hospital operator Fortis Healthcare is looking to list a real estate investment trust (REIT) in Singapore in the next six months to house its property assets as it would free capital to focus on its core business. It is looking at a valuation of $600-700 million.

Fortis, which in July missed out on a bid for control of Singapore-based hospital operator Parkway Holdings, has been working on a possible REIT listing for a year.