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Fortis to Divest Stake in Dental Corporation to Bupa for Aus $ 270 Mn

    Fortis to Divest Stake in Dental Corporation to Bupa for Aus $ 270 Mn

  PR Newswire

  GURGAON, India, December 16, 2012

GURGAON, India, December 16, 2012 /PRNewswire/ --

Fortis Healthcare International Pte Ltd, a subsidiary of Fortis Healthcare Ltd
(Fortis Healthcare) today announced its decision to sell its 64 % stake in
Dental Corporation Holdings Ltd (DC), Australia, to Bupa, for a consideration
of Aus $ 270 Mn. The deal is expected to be completed in March 2013 subject to
shareholder and regulatory approvals.

Malvinder Singh and Shivinder Singh, Executive Chairman and Executive Vice
Chairman, Fortis Healthcare Ltd., said, "As a premier healthcare company we
are quick to assess the competitive landscape, the opportunities for growth
and emerging trends. We are decisive in our response and bold in our actions.
The move is good for Fortis as it aligns the company with its current
strategic priorities. This will help consolidate our presence as one of the
fastest growing healthcare companies in the region."

Fortis had entered DC in Jan 2011 and has since added considerable value to
the business growing it from 140 dental practices to 190 dental practices in
Australia and New Zealand. The model however has remained confined to the two
countries and in-spite of exploration and backing has found limited acceptance
in other Fortis geographies, as originally envisaged.

The DC divestment is in line with Fortis's strategic decision to focus on
healthcare in Asia including India and on developing, staffing, operating and
managing healthcare assets that cater to complex clinical work at the higher
end of the medical delivery value spectrum.

The divestment will go towards further strengthening the Fortis balance sheet
bringing it closer to its net debt to equity target ratio of 0.6x.

About Fortis Healthcare Limited

Fortis Healthcare Limited is a leading, integrated healthcare delivery
provider in Asia. The healthcare verticals of the company span diagnostics,
primary care, day care specialty and hospitals, with an asset base in 11
countries, many of which represent the fastest-growing healthcare delivery
markets in the world. Currently, the company operates its healthcare delivery
network in Australia, Canada, UAE, Hong Kong, India, Mauritius, Nepal, New
Zealand, Singapore, Sri Lanka and Vietnam with 76 hospitals, over 12,000 beds,
over 600 primary care centres, 194 day care specialty centres, over 240
diagnostic centres and a talent pool of over 23,000 people. Fortis Healthcare
is driven by the vision of becoming a global leader in the integrated
healthcare delivery space and the larger purpose of saving and enriching lives
through clinical excellence.

For information please contact:Raghu Kochar             Corporate
Communications         +91-9811617256          
raghu.kochar@fortishealthcare.com Anurag Kalra
Investor Relations +91-9810109253 Anurag.kalra@fortishealthcare.com