FHHPL transfers holding in Hirananadi Healthcare to Fortis

Fortis Healthcare Ltd today said the promoter Fortis Healthcare Holdings Private Ltd has transferred its complete shareholding in subsidiary firm Hiranandani Healthcare Pvt Ltd to the company for Rs 61 crore.
"This is to inform you that Fortis Healthcare Holdings Private Limited, a promoter company, has today transferred its complete shareholding in Hiranandani Healthcare Private Limited, a subsidiary company to Fortis Healthcare Limited," Fortis Healthcare said in a regulatory filing.
Currently, Fortis Healthcare holds 85 per cent equity stake in Hiranandani Healthcare (HHPL) and "as part of the business strategy, the said transaction has been made to make HHPL a 100 per cent subsidiary of the company by acquiring 600,000 equity shares from Fortis Healthcare Holdings Pvt Ltd (FHHPL) at a consideration of Rs 61 crore," it said.

Fortis said the deal is for a cash consideration that has to be made in multiple tranches over a period of 90 days.
Among others, FHHPL and RHC Holding, the promoter companies, have today transferred their complete shareholding in Fortis HealthStaff to Escorts Heart Institute and Research Centre Limited, both being subsidiary companies.
Also, Fortis Healthcare informed: "Fortis Healthcare Holdings Pvt Ltd, a promoter company has today transferred its complete shareholding in Fortis Emergency Services Ltd, an associate company to Fortis Hospitals Limited.