Fortis Healthcare | The Asian Age

Thursday, Apr 25, 2024 | Last Update : 12:18 PM IST

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Malaysia's IHH Healthcare Berhad on Tuesday said it has made a fresh binding offer to the board of Fortis Healthcare.

IHH Healthcare submits fresh bid for Fortis

The company had earlier scrapped its decision to opt for the offer by the Munjal-Burman combine to invest Rs 1,800 crore in the company.

03 Jul 2018 5:19 PM

Cash-strapped Fortis Healthcare, which is currently in the process to find a new investor, on Friday extended the date for submission of binding bids yet again by fixing July 3 as the new deadline.

Fortis Healthcare extends deadline of binding bids to July 3

The bids should be unconditional as well as mention the source of funds.

29 Jun 2018 12:39 PM

Former promoters of Fortis Healthcare Ltd, Malvinder Singh and Shivinder Singh, are the persons responsible for the financial absurdity of the company. (Photo: ANI)

Former promoters responsible for financial absurdity of Fortis, says report

Chairman Ravi Rajagopal released the findings of the investigation report on Wednesday.

28 Jun 2018 1:21 PM

Beleaguered Fortis Healthcare on Wednesday reported widening of its consolidated net loss to Rs 914.32 crore for the fourth quarter ended March 2018, mainly on account of continuing business challenges.

Fortis Healthcare Q4 net loss widens to Rs 914 crore

It was Rs 479.29 crore for the previous fiscal year.

27 Jun 2018 10:48 AM

Newly-appointed board of Fortis Healthcare, which is in the process of finding an investor, has again deferred approval of quarterly and annual financial results for the period ended March 31, 2018, saying the issue requires more deliberation.

Fortis board meeting to reconvene today for considering financial results

Fortis said the board meeting commenced at 1600 hours on June 25 and was adjourned at 0215 hours on June 26.

26 Jun 2018 12:40 PM

The scheme may not result in optimum value for shareholders.

Fortis pulls out of amalgamation scheme with Fortis Malar, SRL

The scheme could not be completed even after 19 months due to reasons beyond the company's control.

14 Jun 2018 9:29 AM

The earlier deadline for submitting fresh binding bids was June 14.

Fortis extends deadline for submission of binding bids to June 28

Buyers have to make a minimum investment of Rs 1,500 crore into Fortis Healthcare.

12 Jun 2018 10:59 AM

Fortis said it has received interest from various parties on May 31, as per the timeline specified in the fresh process for bidding.

Fortis Healthcare shortlists 4 entities for stake sale

Earlier this week, Fortis Healthcare initiated a fresh time-bound bidding process for its sale.

01 Jun 2018 4:05 PM

Fortis Healthcare on Tuesday decided to initiate a fresh, time- bound bidding process for its sale and terminated the offer from Munjal-Burman combine that was earlier accepted by the company's board.

Fortis Healthcare initiates fresh bidding process for sale

As per the latest timeline, binding bids should be submitted on June 14 between 8.30 am to 9.30 am.

29 May 2018 5:24 PM

Fortis Healthcare on Monday said the Munjals-Burmans combine, whose bid for investing Rs 1,800 crore was approved by its board, have consented to re-opening the bidding process.

Munjals-Burmans combine give consent to re-open Fortis bidding process

Fortis Healthcare said it has received a letter from Hero Enterprise Investment Office and Burman family Officer.

28 May 2018 1:04 PM

Fortis Healthcare on Wednesday said its shareholders have voted in favour of removal of Brian Tempest from the Board of Directors.

Fortis shareholders vote out Brian Tempest from Board

Fortis is in the process of inducting new investor to the company.

23 May 2018 3:01 PM

Fortis Healthcare on Monday said its two more directors, Harpal Singh and Sabina Vaisoha, have resigned -- a day ahead of a crucial meeting of shareholders called to vote on the removal of four directors of the cash-strapped healthcare chain.

Two more Fortis directors quit ahead of crucial EGM

Fortis said Singh, who is also Chairman Emeritus of the company, has resigned as a non-executive director with effect from May 20.

21 May 2018 1:57 PM

Munjals-Burmans bid opted due to certainty, liquidity issues: Fortis

Majority of Fortis Healthcare's board opted for the Munjals-Burmans offer keeping in mind the certainty and liquidity issues.

11 May 2018 4:34 PM

98.32 per cent of the shareholders who participated in the process voted in favour of the resolution, while 1.67 per cent voted against it.

Fortis shareholders approve acquisition of RHT Health Trust assets

In February, Fortis Healthcare had entered into definitive agreements to acquire entire portfolio of assets.

05 May 2018 5:44 PM

Company received an enhanced revised proposal from IHH to invest directly into company at a per share price of Rs 175 per share.

Fortis receives revised offer from Malaysia's IHH at Rs 175 per share

Fortis Healthcare board will meet on May 10 to take a decision on the binding bids for the company.

01 May 2018 12:08 PM

Fortis Healthcare on Saturday said its board will meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee.

Fortis board to meet on May 10 to decide on binding bids

The committee will evaluate all binding bids received by the company till forenoon of May 1, it said in a filing to BSE.

28 Apr 2018 10:23 AM

Manipal’s new offer to buy Fortis’ hospitals is for 63.22 billion rupees ($949.8 million), up from the previous proposal of 60.61 billion rupees.

Suitors for India's Fortis revise bids ahead of panel recommendation

On Monday, Fortis said the Hero-Burman consortium had extended the validity period on its offer to May 4.

25 Apr 2018 10:46 AM

Fortis Healthcare on Tuesday said Malaysia's IHH Healthcare Berhard has made a binding offer to immediately infuse Rs 650 crore in the company as part of its overall proposal to invest Rs 4,000 crore.

Malaysia's IHH makes binding offer to invest Rs 650 cr in Fortis

IHH has also demanded that it be given the right to appoint two directors on the board of Fortis.

24 Apr 2018 5:56 PM

Fortis Healthcare on Monday said Hero Enterprise Investment and the Burman Family have extended the validity of their improved, joint binding offer to invest Rs 1,500 crore in the company till May 4.

Munjals, Burmans extend validity of their offer for Fortis

Hero Enterprise Investment, Burman Family have extended the validity of their improved, joint binding offer to invest Rs 1,500 crore.

23 Apr 2018 2:16 PM

Fortis Healthcare said it has received a non-binding expression of interest from KKR-backed Radiant Life Care, making it the fifth bidder for the beleaguered firm.

Fortis receives non-binding offer from KKR-backed Radiant Life Care

Radiant Life Care has offered to acquire at least 26 per cent stake in Fortis Healthcare.

20 Apr 2018 12:22 PM

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Dilip Cherian