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The board of Fortis Healthcare will decide on four competing bids on Thursday, including a revised offer from TPG-backed Manipal Hospitals, which will enhance the company’s valuation and will offer immediate financial support.
In the third offer so far, TPG-Manipal has valued Fortis’ hospital business at Rs 63.22 billion, 4.31 per cent higher than its April 10 offer. It has also offered to arrange financial assistance of up to Rs 7.5 billion to take care of the hospital’s immediate liquidity concerns. Manipal Hospital said that it had received a letter of intent from ICICI Bank to provide credit facilities.
The revision of
