Shares of Fortis Healthcare have advanced by 3.7% to Rs184.5 after the company announced the acquisition of a 23.9% strategic stake in Parkway Holdings Limited, from TPG Capital (formerly Texas Pacific Group).
Parkway is counted as Asia's premium healthcare provider, with a network of 16 hospitals having 3,400 beds spread over six countries, including India. The deal size is estimated to be about US$ 685.3 million (S$959.4 million).
The scrip opened at Rs186 it touched an intra-day high of Rs187 and a low of Rs181 and has recorded volumes of over 6.3mn shares on NSE.