Fortis Healthcare Singapore, a subsidiary of Fortis Healthcare today announced its decision to divest 100% shareholding in RadLink-Asia and its subsidiaries, RadLink, Singapore, to Medi-Rad Associates (Medi-Rad), an indirect wholly-owned subsidiary of IHH Healthcare Berhad, for SGD 137,000,000.

RadLink is engaged in the provision of healthcare services including the provision of outpatient diagnostic and molecular imaging services in Singapore. The offer price is reflective of the value and efficiencies added by the Fortis group.

Malvinder Singh, executive chairman, and Shivinder Singh, executive vice chairman, Fortis Healthcare said, "This is in line with our strategic decision to intensify our focus on our core hospital and diagnostics business in India. Our international healthcare businesses have all done well. The significant value that we have created, is now being unlocked and will be ploughed back to strengthen our growth in India."

Shares of the company declined Rs 3.4, or 2.72%, to settle at Rs 121.80. The total volume of shares traded was 102,013 at the BSE (Friday).