Hospital chain 

Fortis Healthcare has bought Quality Healthcare, a Hong Kong based healthcare

company, for about USD 193 million or approximately Rs 880 crore (oct 11,2010)

It isFortis Global which is the promoter company that is going to look at international expansion within the
healthcare space.

International healthcare business is going to be headquartered out of Singapore. So Singapore

will continue to remain our hub for our healthcare businesses internationally

600 medical centres at Hong Kong. really positions us exceedingly well in the healthcare market
in Hong Kong which allows us opportunities organically and inorganically to look at other
segments within the healthcare space in Hong Kong and also look at this to be a base for our
strategy for North Asia.

 Fortis Healthcare today said it has entered into a pact with two hospitals in Dubai and Tanzania to set up
specialised medical facilities there as part of its overseas expansion strategy. (27 Oct 2010). extend its
medical expertise to RAK Hospital in Dubai and Regency Medical Centre (RMC) in Tanzania through one
of its subsidiaries, Fortis Escorts Heart Institute, Fortis Escorts Heart Institute (FEHI) will set up a
paediatric interventional cardiac unit at RAK Hospital in Dubai. Fortis Escorts Heart Institute (FEHI) will
set up a paediatric interventional cardiac unit at RAK Hospital in Dubai

"We are pleased to associate with RAK Hospital and RMC. This association is in line with our vision to
become a global healthcare service provider and offer best quality to the benefit of the patient," Fortis
Healthcare Regional Director Ashish Bhatia said. 

the company would expand by setting up greenfield units, management contracts and acquisitions.
acquisition of two healthcare networks in Hong Kong and Australia. (10th jan 2011)

Fortis Global Healthcare Holdings will acquire a 30 per cent stake in Australia’s leading dental clinic chain Dental
Corporation for about Rs 450 crore.

Malvinder Mohan Singh and Shivinder Mohan Singh, the promoters of Fortis Healthcare, will acquire key subsidiaries
of Hong Kong-listed Quality Healthcare Asia (QHA) for HK$1,541 million (approximately Rs 882 crore). QHA is the
largest private integrated healthcare service platform in Hong Kong.

The firms, which will be acquired by the billionaire Singh brothers, include Quality Healthcare Medical Services and
Quality Healthcare Services. In 2009, the two entities together accounted for HK$82.8 million (Rs 47.4 crore), or 93
per cent, of QHA’s operational profit of HK$89 million (Rs 50.9 crore).

The other subsidiaries which are part of the deal are Quality HealthCare, Quality HealthCare Medical Holdings, and
Portex.

The acquired businesses comprise a network of over 60 wholly-owned medical centres, 500 affiliated clinics, 40
dental and physiotherapy centres, and a private nursing agency, with a database of over 3,000 nurses, according to a
statement by Fortis Global.

The year under review was historic for the Company. It concluded two
landmark acquisitions viz. acquisition of 10 Hospitals (including 2
under construction) from M/s Wockhardt Hospitals Limited and
acquisition of strategic stake in Parkway Holdings Limited, Singapore.

Acquisition of 10 hospitals from M/s Wockhardt Hospitals Limited, has

not only provided a Pan India presence to ‘Fortis but also added a
vast number of medical and non-medical professionals to the talent
pool, which will enable it to grow faster.

Similarly, Parkway Acquisition was driven by twin objectives of

establishing the international presence and also learn from established
players to redefine healthcare in India.

In order to finance its growth strategy, including cost of aforesaid

acquisitions and to further strengthen its financial position, the
Company raised funds through:

Rights Issue of Equity Shares with Detachable Warrants

During the year, a Rights Issue of Equity Shares of Rs. 10 each, at a

premium of Rs. 100 per equity share was made. The Issue opened for
subscription on September 30, 2009 and closed on October 15, 2009. In
terms of Letter of Offer dated September 22, 2009, the Company had, on
October 27, 2009, allotted 9,06,46,936 Equity Shares aggregating Rs.
9,971.16 Million. The equity shares were listed at the National Stock
Exchange of India Limited and the Bombay Stock Exchange Limited w.e.f.
3rd November, 2009.

Further, in terms of the Rights Issue, the shareholders were entitled

to one detachable warrant with one equity share allotted under the
Issue and accordingly, 9,06,46,936 detachable warrants were issued and
allotted to the eligible shareholders. These were listed at the
National Stock Exchange of India Limited and the Bombay Stock Exchange
Limited w.e.f. 4th November, 2009.

Further, the warrants were to be exercised at any time during the

“Notice Period” to be fixed by the Company within the Warrant Exercise
Period, between six (6) months to eighteen (18) months from the date of
allotment of equity shares in the Rights Issue (i.e., a period from
April 27, 2010 to April 26, 2011). The Company has fixed the “Notice
Period” for exercise of detachable warrants from May 21, 2010 to June
19, 2010, at an offer price of Rs. 153.

Foreign Currency Convertible Bonds

The Company also issued 1,000, 5 percent Foreign Currency Convertible

Bonds of US$ 100,000 each aggregating US$ 100 Million in May, 2010 and
are convertible at the option of the bondholders between May 2013 to
May 2015. These bonds are listed on Luxembourg Stock Exchange (LSE) and
are admitted to trading on the EURO MTF market of LSE.