Fortis Healthcare has decided to buy 51 per cent shares for Rs 970 crore in the Fortis Hospital Ltd (FHTL), a subsidiary of the Religare Health Trust (RHT).

The group’s consolidated loss has risen 150 per cent to Rs 55 crore in the December quarter, against Rs 22 crore in the year-ago period. FHTL houses two clinical establishments of the company – Fortis Hospital, Shalimar Bagh, and the Fortis Memorial Research Institute (FMRI), Gurgaon. Both Fortis and RHT (via its subsidiary Fortis Health Management Ltd) are currently shareholders in FHTL.

http://www.business-standard.com/article/companies/fortis-purchases-majority-stake-in-religare-arm-116020500055_1.html

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