Fortis Healthcare shares climb over 6% on overseas unit sale

Shares of Fortis Healthcare ended over 6 per cent higher today as the company said it will divest 100 per cent stake in healthcare service provider RadLink-Asia and its arm RadLink Singapore to Medi-Rad Associates for SGD 137 million (over Rs 655 crore).
After surging 11.65 per cent to Rs 136 -- its 52-week high in intra-day trade, shares of Fortis Healthcare trimmed some of the gains finally ended at Rs 129.40, up 6.24 per cent on the BSE.
At the NSE, the scrip rose by 6.19 per cent to settle at Rs 129.45.
On the volume front, 10.92 lakh shares of the company changed hands at the BSE, while over 51 lakh shares were traded at the NSE during the day.

"Fortis Healthcare Singapore Pte Ltd, a subsidiary of Fortis Healthcare International Pte Ltd, one of our step-down subsidiaries in Singapore, announced its decision to divest 100 per cent shareholding in RadLink-Asia Pte Ltd and its subsidiaries, 'RadLink', Singapore to Medi-Rad Associates Ltd, an indirect wholly-owned subsidiary of IHH Healthcare Berhad, for SGD 137,000,000," Fortis Healthcare had said in a statement on Friday.
The deal will be successfully closed following the necessary statutory and regulatory approvals as per local requirements, it had said.
RadLink is engaged in providing healthcare services, including outpatient diagnostic and molecular imaging services in Singapore, Fortis Healthcare had said.