Fortis Healthcare said to be mulling buyout of RHT Health Trust

(March 27): Fortis Healthcare, India’s second-largest private hospital chain by market value, is weighing a buyout of the Singapore-listed business trust that owns some of its clinics, people with knowledge of the matter said.

The New Delhi-based company is considering making an offer for all the units it doesn’t already own in RHT Health Trust, which has a market value of $726 million, according to the people. Deliberations on the potential take-private deal are at an early stage, and Fortis Healthcare could decide not to proceed with a bid, the people said, asking not to be identified because the information is private.

RHT rose as much 5.8% Monday in Singapore, the biggest intraday gain in more than a month, prompting an exchange query. Units of the trust were up 4% before RHT requested a trading halt, pending a response to the bourse operator. The benchmark Straits Times Index fell 0.5% at 11.31 am in the city-state.

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