The Fortis Healthcare business will get added to Manipal Health’s existing hospital business. They may still hope that Malaysia’s IHH Healthcare Bhd, another rumoured suitor for Fortis Healthcare, decides to make a hostile bid. Manipal Health will also buy a 20% stake in Fortis Healthcare’s subsidiary SRL Diagnostics Ltd, from Fortis, for Rs720 crore. The Fortis Healthcare business will get added to Manipal Health’s existing hospital business. That appears to have skewed valuations in favour of Manipal Health, despite Fortis Healthcare being the larger entity.

Source: Mint March 29, 2018 02:37 UTC