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Singapore: Diagnostics service merger hits merger review snafu

 |  November 27, 2014

The Competition Commission of Singapore has reportedly not yet approved of the proposed acquisition of diagnostics service provider RadLink-Asia, instead raiding competition concerns over the deal.

Reports say the CCS issued a statement highlighting potential harms to competition in the diagnostics services industry following the deal. RadLink-Asia would be acquired by Parkway Holdings from its current owner, India-based Fortis Healthcare.

The acquisition was agreed upon last September for $108.6 million.

But both Parkway and RadLink operate in the radiopharmaceutical supply industry, as well as other markets, leading the CCS to open a Phase 2 review of the transaction. The CCS has additionally asked the companies for more information on the merger.

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