IHH Healthcare confirms interest in Fortis but says not in talks

IHH HEALTHCARE confirmed on Monday that it has expressed interest in Fortis Healthcare but clarified that no talks have begun, in response to a Saturday report in Malaysian newspaper The Star.

Malaysia and Singapore-listed IHH Healthcare is among potential white knights contending for the troubled hospital chain, which is India's second largest.

In a regulatory filing, IHH said that on April 11, its board of directors issued a non-binding letter to the Fortis board, "expressing IHH's interest to participate in Fortis and its affiliates in a suitable manner."

"In response to the letter, the board of Fortis has indicated its inability to engage with IHH as Fortis has entered into binding agreements with Manipal Health Enterprises Private Limited, Manipal Global Health Services and TPG Asia," said IHH.

It added that it has not entered into any discussions, negotiations or transactions at this juncture.

IHH said it will make appropriate announcements if there are any further material developments.

"The shareholders of IHH or investors should exercise caution and seek appropriate independent advice when dealing in the shares of IHH," it added.