Fortis finally gets a foothold in Singapore

Fortis Global Healthcare has acquired an under construction specialized cancer hospital in Singapore for Singapore $33 million (approximately Rs 115 crore). The hospital has been bought out from First Real Estate Investment Trust, a Singapore listed healthcare real estate company.

The cancer hospital is the third acquisition by Fortis Global in five months. The company had earlier acquired controlling stake in Hong Kong-based Quality Healthcare, in November 2010 and 30 per cent stake in Dental Corporation, in Australia in January 2011.Fortis aims to complete the construction of the Singapore hospital by the second quarter of 2012.