Fortis Healthcare Limited — Important, 16-01-2025: Updates

Fortis Healthcare Limited has executed two significant Share Purchase Agreements to acquire a total of 1,87,48,126 equity shares in its subsidiary, Agilus Diagnostics Limited, enhancing its stake in Agilus to 89.2%. The acquisitions involve purchasing 1,24,37,811 shares from NYLIM Jacob Ballas India Fund III, LLC (NJBIF) and 63,10,315 shares from Resurgence PE Investments Limited, with an agreed price of INR 719.20 per share. The total cash consideration for these transactions amounts to approximately INR 13,48.36 crore, completing a composite acquisition of 31.52% from private equity investors including a previous acquisition from the International Finance Corporation. Agilus, with revenues of approximately INR 85,880.88 lakh on a standalone basis for the fiscal year ending March 31, 2024, stands as a leader in the diagnostic services sector in India, operating a robust network of 407 laboratories and extensive customer touchpoints across the country. This acquisition positions Fortis for further growth and consolidation in the diagnostics sector, offering a positive outlook for the company's expansion strategy.