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 20-Apr-18, ET Healthworld 

Fortis Healthcare’s board is setting up an expert advisory committee to assess binding bids for the company. This means nonbinding offers will not be considered, a setback for Malaysia’s IHH and China’s Fosun, which had both submitted nonbinding offers and sought time to conduct due diligence.

Two binding offers have been submitted - by TPG-backed Manipal Hospital and the Munjal-Burman family offices.

Indias Fortis forms expert panel to assess binding bids (c) Medicare News

Image: Medicare news

The development comes as a section of minority Fortis shareholders has sought an extraordinary general meeting to remove and replace four Fortis board members with three independent directors of their choice.

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 Healthcare insights 

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