India's largest hospital chain, Fortis Healthcare, has decided to transfer some of its businesses to a newly created subsidiary as part of its asset light model strategy. Some of its subsidiaries have divested their hospital operation and management, in-patient and emergency healthcare services to a newly incorporated subsidiary Fortis Health Management (North) Ltd, the company said in a disclosure to the stock exchanges. Financial details of the transactions such as value of the assets, goodwill, tax and liabilities will be finalized when the restructuring is completed, it added. The restructuring will enable the Delhi-based group to focus on hospital infrastructure, out-patient consultation services, daycare services, radiology, imaging and diagnostics, the company said in a disclosure to the stock exchanges. The company's shares closed at Rs 106.45, down 1.4% in Mumbai.
Source: Economic Times
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