Fortis Healthcare shares jump nearly 12%; hit 52-week high

Shares of Fortis Healthcare surged nearly 12 per cent 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).
Stocks of the pharma firm gained 11.65 per cent to Rs 136 -- its 52-week high on the BSE.
At the NSE, it soared 11.56 per cent to touch its one-year peak of Rs 136.
"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.