Fortis to buy 23.9% stake in Parkway Holdings

The Indian heathcare major will acquire stake in Parkway Holdings from TPG Capital (formerly Texas Pacific Group).

Fortis intends to seek four seats on the board of directors of Parkway and also to nominate Malvinder Mohan Singh (current Chairman of Fortis Healthcare) as the Chairman of the board of Parkway, the firm said.Parkway Holdings is counted as Asia’s premium healthcare provider, with a network of 16 hospitals, having 3,400 beds, spread over six countries, including India.

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