Cash-strapped Fortis said IHH will invest 40 billion Indian rupees ($584.11 million) at 170 rupees per share.
NEW DELHI: India’s Fortis Healthcare Limited said a big chunk of the 40 billion rupees investment it has received from Malaysian hospital operator IHH Healthcare Bhd
will be used to buy its leased properties in India.
There are about a dozen hospital facilities Fortis operates on leased property and their acquisition will save the company some 3.5 billion rupees per year in rental costs, Fortis chief executive officer Bhavdeep Singh told Bernama.
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