Board to meet on Friday to evaluate binding bids: Fortis

Fortis Healthcare on Thursday said that its board of directors in a meeting held today could not deliberate upon the binding bids and will meet again on Friday to consider the same.

Accordingly, the Fortis Healthcare's board will meet on Friday to deliberate upon the bids received by it for the proposed transaction of fund raising or re-structuring of the company.

As per a BSE filing, the company said that the resignation of Renuka Ramnath from its "expert advisory committee" led the board to "to adjourn the meeting to be re-convened to April 27, 2018".

The company's board had decided to constitute an "expert advisory committee" to evaluate all binding proposals for fund infusion. The panel is led by Deepak Kapoor, Former Chairman and CEO of Price Waterhouse Coopers, India.

On Wednesday, the company informed the BSE that Ramnath who is a former MD and CEO of ICICI Venture has resigned from its "expert advisory committee".

The company had, last Friday named Ramnath and Lalit Bhasin, President, Society of Indian Law Firms and Managing Partner, Bhasin & Co. as being part its "expert advisory committee".

The company's Board has received offers from suitors such as Hero Enterprise Investment Office and the Burman Family Office, Fosun Health Holdings, IHH Healthcare Berhad, Manipal Hospital Enterprises and Radiant Life Care for infusion of funds.

--IANS

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