Quality CEO Chee Says It May Help Fortis Start Outpatient Clinics in India
Quality HealthCare Asia Ltd., which agreed to sell its medical services unit to billionaire Malvinder Singh’s Fortis Global Healthcare Holdings Pte., said it can help the company start outpatient clinics in India.
“India at the moment is very hospital-centric, but it’s just a question of time when patients and the community could want community-outpatient services,” Lincoln Chee, Quality’s chief executive officer, said in a telephone interview from Hong Kong today. As the city’s largest operator of medical clinics, there are “potentially a lot of areas” where Quality can share its expertise, he said.
Quality shares headed for their highest closing level in nine years after Fortis agreed to buy the division for HK$1.5 billion ($193 million). The purchase will give Fortis Global, which controls Fortis Healthcare Ltd., India’s second-largest hospital operator, a network of more than 60 medical centers, at least 500 affiliated clinics and more than 40 dental and physiotherapy centers.
Quality jumped 13 percent to HK$5.75 as of the midday trading break in Hong Kong, poised for its highest close since July 4, 2001. Fortis Healthcare rose 1.3 percent to 173.5 rupees as of 10:56 a.m. in Mumbai trading.
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