MGM Healthcare Private Limited entered into a definitive agreement to acquire Entire business operations of Fortis Malar Hospital, Chennai from Fortis Malar Hospitals Limited for approximately INR 450 million.

MGM Healthcare Private Limited entered into a definitive agreement to acquire Entire business operations of Fortis Malar Hospital, Chennai from Fortis Malar Hospitals Limited (BSE:523696) for approximately INR 450 million on November 24, 2023. The transaction is subject to approval of the shareholders of Fortis Malar Hospitals Limited and Fortis Healthcare Limited. The transaction is expected to be consummated by January 31, 2024.

Saraf and Partners Law Offices and Shardul Amarchand Mangaldas acted as legal advisors while Veda Corporate Advisors acted as financial advisor for Fortis. JSA Advocates & Solicitors acted as legal advisor for MGM. RBSA Capital Advisors LLP acted as fairness opinion provider to Fortis Malar Hospital.