Delhi based Fortis have acquired 10 hospitals from Wockhardt. Price of the deal :- Rs 909 crore(Biggest deal ever)
Specialities of the deal :-
1. Fortis will use Rs 350 crore from a proposed rights offer and debt to fund the acquisition.
2.About 33 percent would immediately get added to EBIDTA numbers.
3.Fortis has been able to cherry pick the most suitable assets and made a pan India presence.
4.Wockhardt will be able to come out of huge debt of around Rs 2700 crore
5.Valuation done on the basis of number of beds and infrastructure.
Kind of Win-Win situation for both, what do you say!
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