Fortis Healthcare Limited completed the acquisition of remaining 31.52% stake in Agilus Diagnostics Limited from International Finance Corporation, NYLIM Jacob Ballas India Fund III, LLC managed by Jacob Ballas Capital India Private Limited, Investment Arm and Resurgence Pe Investments Limited managed by Avigo Capital Partners.
Fortis Healthcare Limited (NSEI:FORTIS) agreed to acquire remaining 31.52% stake in Agilus Diagnostics Limited from International Finance Corporation, NYLIM Jacob Ballas India Fund III, LLC managed by Jacob Ballas Capital India Private Limited, Investment Arm and Resurgence Pe Investments Limited managed by Avigo Capital Partners on August 8, 2024. Upon completion, Fortis Healthcare Limited will own 100% stake in Agilus Diagnostics Limited. As of date, International Finance Corporation holds 5.97 million equity shares representing 7.61%, NYLIM Jacob Ballas India Fund holds 12.43 million equity shares representing 15.86% equity stake and Resurgence PE Investments Limited holds 6.31 million equity shares representing holding 8.05% equity stake in Agilus.
The transaction is subject to signing of relevant documents and regulatory approval from the Competition Commission of India and other regulatory approvals as may be required. As of August 30, 2024, the deal has been approved by the board of Fortis Healthcare. As of October 29, 2024, the Competition Commission of India approved the acquisition of additional share capital of Agilus Diagnostics Limited by Fortis Healthcare Limited. As of January 16, 2025, the Company along with Agilus Diagnostics Limited has executed a Share Purchase Agreement with NYLIM Jacob Ballas India Fund III, LLC (?NJBIF?) for acquisition by the Company of 1,24,37,811 equity shares, representing 15.86% stake as held by NJBIF in Agilus; and has executed a Share Purchase Agreement with Resurgence PE Investments Limited for acquisition by the Company of 63,10,315 equity shares (representing 8.05% stake) as held by Resurgence in Agilus. The completion of the aforesaid transactions is expected to be completed by on or before January 20, 2025. As set out in our intimation dated December 20, 2024, the Company had acquired 5,970,149 equity shares as held by International Finance Corporation, representing 7.61% equity stake in Agilus from IFC. Pursuant to acquisitions from NJBIF, Resurgence and IFC, the Company shall have acquired 31.52% shareholding in Agilus held by the PE Investors, and will hold 89.2% shareholding in Agilus.
Fortis Healthcare Limited (NSEI:FORTIS) completed the acquisition of remaining 31.52% stake in Agilus Diagnostics Limited from International Finance Corporation, NYLIM Jacob Ballas India Fund III, LLC managed by Jacob Ballas Capital India Private Limited, Investment Arm and Resurgence Pe Investments Limited managed by Avigo Capital Partners on January 17, 2025.
Fortis Healthcare Limited is an India-based integrated healthcare service provider. The Company is primarily engaged in the business of healthcare services. Its segment includes the Healthcare business and the Diagnostics business. The healthcare business includes inpatient and outpatient services, sale of medical and nonmedical items and management fees from hospitals. The diagnostic business includes pathology and radiology services. Its specialties include Cardiac sciences, Oncology, Neurosciences, Gastroenterology, Orthopedics, and others. The healthcare verticals of the Company primarily consist of day care specialty, diagnostics and tertiary and quaternary care. The Company has approximately 27 healthcare facilities in India, 4750 operational beds. It operates in India, United Arab Emirates, Nepal, and Sri Lanka.
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Fortis Healthcare Limited completed the acquisition of remaining 31.52% stake in Agilus Diagnostics Limited from International Finance Corporation, NYLIM Jacob Ballas India Fund III, LLC managed by Jacob Ballas Capital India Private Limited, Investment Arm and Resurgence Pe Investments Limited managed by Avigo Capital Partners.
