India, Dec. 21 -- image credit- freepik

Fortis Healthcare Limited (FHL) has announced signing of definitive agreements for the acquisition of the 125-bedded People Tree Hospital in Yeshwanthpur, Bengaluru (PTHY) by way of a 100% acquisition of TMI Healthcare Private Limited,theentityunderwhichthePTHYbusinessoperationsreside.The saidacquisitionwouldbeundertakenbyFHL'swholly-ownedsubsidiaryInternationalHospital Limited (IHL).

As part ofthecompositetransaction, along withthe acquisition of TMI Healthcare, IHLwould alsoacquirethehospitalbuildingandtheunderlyinglandofPTHYfromthepromotersofTMI Healthcare and an adjacent land parcel from an independent third party; for a cumulative transaction value of Rs 430 crore (including debt residing wit...