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Cash-strapped Fortis Healthcare sees signs of improvement


(Reuters) - Cash-strapped Indian hospital operator Fortis Healthcare Ltd said on Tuesday it was starting to see some signs of recovery, as it secured shareholder approval for its takeover by Malaysia's IHH Healthcare Bhd.Fortis, which operates about 30 private hospitals in India, reported a net loss of 707.4 million rupees ($10 million) for the three months ended June 30, and has now been in the red for five of the last six quarters, as it struggled with a cash crunch, rising debt and other problems.However, it said occupancy rates at its hospitals had risen to over 69 percent currently, from ...

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First Published: Tue, August 14 2018. 20:38 IST