24 Feb '11, 2pm

DTN Singapore: Fortis buys Singapore hospital: INDIA'S Fortis group has made its first acquisition here, seven m...

DTN Singapore: Fortis buys Singapore hospital: INDIA'S Fortis group has made its first acquisition here, seven m...

'Through this hospital, we are making a beginning in the highly recognised and competent health-care delivery system of Singapore,' said Fortis Global executive chairman Malvinder Singh. -- ST PHOTO: LAU FOOK KONG INDIA'S Fortis group has made its first acquisition here, seven months after failing to take over health-care group Parkway Holdings. Fortis Global Healthcare, the sister company of New Delhi-listed Fortis Healthcare, announced on Thursday that it will pay Singapore-listed First Real Estate Investment Trust (First Reit) $33 million for a cancer hospital being built in Adam Road. Fortis aims to complete the facility, which will incorporate a critical and intensive care service, by the second quarter of next year. 'Through this hospital, we are making a beginning in the highly recognised and competent health-care delivery system of Singapore,' said Fortis Global ex...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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