IHH Healthcare scraps plan to buy India’s Fortis Healthcare’s Singapore unit
KUALA LUMPUR – Malaysia’s IHH Healthcare Bhd, Asia’s largest hospital operator by stock market value, has scrapped its proposal to buy Singapore’s Radlink-Asia Pte Ltd for 346.53 million ringgit ($93.31 million).
The company said the deal fell through due to non-satisfaction of certain conditions in the sales and purchase agreement, according to a stock exchange filing to the local bourse late on Friday.
Radlink-Asia, a unit of India’s Fortis Healthcare Ltd, provides healthcare services including outpatient diagnostic and molecular imaging services in Singapore. –Reuters