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Fortis Healthcare pulls out of amalgamation scheme with Fortis Malar, SRL


(Reuters) - Fortis Healthcare Ltd on Wednesday withdrew the scheme of arrangement and amalgamation with its units Fortis Malar Hospitals Ltd and SRL Ltd, citing a delay in its completion.The scheme could not be completed even after 19 months due to reasons beyond the company's control, Fortis Healthcare said in a statement late on Wednesday. Malar runs a superspeciality hospital in Chennai while SRL operates a chain of pathology clinics.Given the headwinds in the sector and less-than-optimum performance of the diagnostics business during the period of delay, the ...

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First Published: Thu, June 14 2018. 09:04 IST