BackFortis in talks with investors to buy stake in SRL Diagnostics
SRL is the country's largest diagnostic chain, owned by brothers Malvinder and Shivinder Singh
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New Delhi: Fortis Healthcare Ltd on Friday said it is in with several investors for injecting money into its subsidiary SRL Diagnostics.
In a statement to BSE Ltd, the company said it is in the process of facilitating a third-party exit for existing private equity investors in SRL. SRL is the country’s largest diagnostic chain, owned by brothers Malvinder and Shivinder Singh.
In January, Mint had reported that buyout funds such as KKR, Warburg Pincus Llc. and Baring Private Equity Asia have shown interest in buying the 34% stake held by existing investors. In 2015, the diagnostic chain had roped in investment bank Moelis & Co. to advise on a $200 million share sale.
Fortis’s clarification followed a report by The Economic Times on Friday that Baring Asia, Capital International and Bain Capital were in talks to buy a stake in SRL.
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