Fortis in talks to buy Lanka hospital chain

Fortis Healthcare, a hospital chain promoted by former Ranbaxy owners Malvinder Mohan Singh and Shivinder Mohan Singh, is close to a major acquisition overseas. The move comes within months of the company acquiring 10 hospitals belonging to Habil Khorakiwala-promoted Wockhardt Hospitals.

Fortis Healthcare was in advanced discussions to acquire three hospitals belonging to the Asiri Group of Hospitals, Sri Lanka’s largest private health care provider, according to investment bankers having knowledge of the deal. If the deal goes through, Fortis would get a minimum of 250 beds in Sri Lanka, a country with less than 4,000 beds and a limited number of organised health care players.

The Asiri Group has four hospitals — Asiri Hospital, Asiri Surgical Hospital Plc and Asiri Central (all based in Colombo) and Asiri Hospital in Matara. Asiri Surgical Hospital Plc (ASHP) in Colombo is the flagship and is listed on the Colombo Stock Exchange.