KKR-backed Radiant Life Care bids for Fortis

New Delhi, April 20

Fortis Healthcare said it has received a non-binding expression of interest from KKR-backed Radiant Life Care, making it the fifth bidder for the beleaguered firm.

Radiant Life Care has offered to acquire at least 26% stake in Fortis Healthcare (FHL) at Rs 126 per share, excluding its diagnostic business SRL.

“Our offer is demerger of hospital businesses from Fortis Healthcare into “NewCo”, excluding Fortis’ stake in SRL. All cash open offer to shareholders of NewCo at price of Rs 165 per share, adjusted for per share value of FHL’s shareholding in SRL, which is Rs 39. Net value of Rs 126 per share of the NewCo,” Radiant Life Care said. — PTI