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Jun
07

Fortis and ING Making Marketplace Movements

Fortis Healthcare has received board approval for their plans to list their Religare Health Trust on the Singapore stock exchange. Meanwhile, the bidding process for the Asian insurance business of ING Groep has moved into the second stage, with a number of contenders making the short list. As a business trust, the Religare Health Trust will contain assets from Fortis' radiological testing and…

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Mar
28

India Waives 5% Service Tax on Private Healthcare

Patients seeking private medical treatment in India will no longer be faced with an upcoming 5 percent service charge. India's federal government last week announced the rollback of the planned tax on health-care services after encountering substantial pressure from opposition political parties, the healthcare industry as well as the general public. Giving his general budget speech before Parliament,…

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Mar
25

Mergers Expected in Thailand Healthcare Sector

Industry analysts are expecting the increase in merger and acquisition activity in Thailand's healthcare sector to continue. Thai healthcare providers are determined to integrate more with one another to give them a national competitive advantage over the large foreign multinationals now entering the market. Under the ASEAN Economic Community (AEC) agreements, by 2015 many industries will be increasingly…

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Jul
27

Fortis Ends Bidding War Leaving Khazanah in Position to Buy Parkway

On Monday July 26th 2010, Fortis Healthcare Ltd. rescinded its SGD 3.2 billion (USD 2.3 billion) offer to buy remaining Parkway shares, leaving the subsidiary of Malaysian sovereign fund Khazanah, Integrated Healthcare…

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Jul
02

Fortis Puts in Superior Bid for Outstanding Parkway Shares

Fortis Healthcare Ltd. has made an offer for all remaining shares in Asian healthcare provider, Parkway Holdings, which surpasses the bid previously put forward by Malaysian government-run bank, Khazanah Nasional Berhad. Previously, Khazanah bid S$ 1.18 billion (US$ 835 million) to more than double its stake

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Jun
02

Fortis and Khazanah vying for control of Parkway Healthcare

Fortis Healthcare, an Indian company, and Khazanah Nasional Berhad, the Malaysian government's investment holding arm are in the middle of a battle over control of Singaporean healthcare group, Parkway Holdings. Khazanah recently offered S$ 1.18 billion (US$ 835 million) through its subsidiary, Integrated Healthcare, to increase its stake in Parkway to 51.5%, thereby controlling the company.…

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Mar
11

Fortis Back in the Black announces New Brand Strategy

Reporting a 2009 net profit of US$1.62 billion (EUR 1.19 billion), chiefly due to the profitable performances of its remaining insurance operations, Fortis also announced its re-branding strategy which aims to reflect the transformation it went through during the past year that made it a focused insurance company.

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