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Manipal, Fortis to merge hospital biz; SRL Diagnostics to be part of deal

The value of the combined hospital business is estimated at around Rs 150 billion after the transaction

Fortis
Together the group (Fortis-Manipal Hospitals combine) will have 45 hospitals in India and overseas, and 11,000 installed beds

Manipal Hospitals, backed by private equity firm TPG, and Fortis Healthcare have announced a merger of their hospital businesses, creating the largest provider of healthcare services in India by revenue. In a late evening notification to the stock exchange, Fortis Healthcare said its board had approved the merger of its hospital business with Manipal Hospitals. The resultant entity, Manipal Hospitals, will be a publicly traded company, listed on the National Stock Exchange (NSE) and the BSE. Together the group will have 45 hospitals in India and overseas, and 11,000 ...