FORTIS HEALTHCARE COMPLETES MERGER OF IT'S FIVE SUBSIDIARIES

has completed the merger of it's five wholly-owned subsidiaries in order to simplify it's structure. The merger involves Fortis Emergency Services Limited, Fortis Cancer Care Limited, Fortis Health Management (East) Limited, Birdie & Birdie Realtors Private Limited, and Fortis Hospitals Limited with their respective shareholders and creditors. As all of them are wholly owned subsidiaries, the main advantage of this deal is the simplified group structure without any equity dilution, which is beneficial from a structural perspective. Having a market cap of Rs 70,400 crores, the company has delivered a good profit growth of 70% CAGR over last 5 years. The stock has given a multibagger 240% returns in the last 3 years, showing strong demand in the stock.