The scheme could not be completed even after 19 months due to reasons beyond the company’s control, Fortis Healthcare said in a statement late on Wednesday. Fortis Malar runs a super speciality hospital in Chennai while SRL operates a chain of pathology clinics.
Reuters
Updated:June 14, 2018, 9:43 AM IST
A Fortis hospital building is pictured in Gurgaon. (Reuters)
The scheme could not be completed even after 19 months due to reasons beyond the company’s control, Fortis Healthcare said in a statement late on Wednesday.
Fortis Malar runs a super speciality hospital in Chennai while SRL operates a chain of pathology clinics.
Given the headwinds in the sector and less-than-optimum performance of the diagnostics business during the period of delay, the scheme may not result in optimum value for shareholders, Fortis added.
The cash-strapped hospital’s operator, which has become the target of a bidding war, earlier this month said it would look at a new round of bids from four local and international parties and fixed June 14 as the last day for the submission.
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Source: News18