Fortis Healthcare Announced to Divest Stake to Bupa

Fortis Healthcare on 16 December 2012 announced to divest 64 percent stake in the Dental Corporation Holdings (DC), Australia. Dental Corporation Holdings (DC), Australia is the private dental care service provider in Australia. Fortis’s stake in DC would thereafter be sold to Bupa for 270 million Australian dollars, which is around 1554 crore Rupees, by March 2013.

Fortis Healthcare executive chairman called the move beneficial for Fortis as it would help in aligning company with the current intentional priorities. It would also help consolidation of Fortis as one among the fastest growing healthcare companies.

Fortis entered DC in January 2011. Ever since then, it added good value to business, enhancing it from 140 dental practices to 190 dental practices in New Zealand as well as Australia. Nevertheless, this growth model has remained restricted to two countries. Despite explorations as well as backing, it has found very limited acceptance in many more geographies of Fortis.

Fortis Healthcare offers various services such as diagnostics, hospitals, primary care as well as day-care specialty. It has its presence in various countries such as Canada, Australia, Hong Kong, New Zealand, Mauritius, Vietnam, Sri Lanka, UAE, Singapore and Nepal apart from India.