Singapore: Regulator rules against Fortis Healthcare’s RadLink sale

Fortis Healthcare Ltd on Friday announced that the Competition Commission of Singapore has ruled against its proposed divestment of 100% stake in its Singapore-based diagnostic and molecular imaging unit RadLink.

In its review of the proposed transaction, the commission cited the possible lessening of competition in the relevant market as the reason for its disapproval of the deal, Fortis said in a filing to stock exchanges. “Our step down subsidiary at Singapore, Fortis Healthcare Singapore Pte. Ltd has received a decision from the Competition Commission of Singapore wherein following a review of the proposed transaction, involving the acquisition of RadLink-Asia Pte Limited and its subsidiaries by Medi-Rad Associates Ltd, an indirect wholly owned subsidiary of IHH Healthcare Berhad, the regulator has indicated that if the proposed transaction is completed as contemplated, the combination may result in lessening of competition in the relevant market in Singapore,” the statement said.

Full Content: The Economic Times

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