Trinity Capital PLC has acquired 6 million shares of Fortis Healthcare Limited (FHL) for GBP 10.3 million in a further pre-IPO placement, at a cost of INR 145 per share. The acquisition will increase Trinity’s strategic shareholding in FHL to 8 million shares or 4.24%. Trinity stated that the increase in investment would give it an opportunity to develop three hotels. It has also been noted that Trikona Capital will appoint a hotel operator to manage and operate the hotels.

According to Aashish Kalra, Managing Director of Trikona Capital: “Our increased investment in Fortis has secured the option to develop three hotels alongside FHL’s future hospitals, this gives us considerable opportunity to tap into the growth potential of the healthcare industry. Apart from having an option to develop hotels along hospitals and healthcare facilities, this strategic relationship will also give rise to opportunities whereby Fortis may develop hospitals in our township developments.” Trinity has noted that India’s fastest growing sub-sector - medical tourism - is expected to grow from $18.7 billion to $45 billion by 2012. The year 2004 saw about 80,000 patients arrive in India from all over the world.
Wednesday, March 21, 2007
Source: Trading Markets

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