Fortis Healthcare Acquires 7.61% Stake in Agilus Diagnostics From IFC

Fortis Healthcare Ltd has initiated a significant acquisition in its material subsidiary, Agilus Diagnostics Ltd, enhancing its ownership stake in the diagnostics giant. The acquisition forms part of a larger strategy to strengthen its position in the diagnostics sector, aligning with Fortis’s growth objectives.

IFC Stake Acquisition Details

On December 20, 2024, Fortis Healthcare announced the acquisition of 5,970,149 equity shares from the International Finance Corporation (IFC). This represents a 7.61% equity stake in Agilus Diagnostics, valued at ₹429.37 crore at an agreed price of ₹719.2 per share. The acquisition was executed under the terms of a shareholders’ agreement. In a regulatory filing, Fortis disclosed that the transaction was completed at 7:18 PM IST on the same day.

Agilus Diagnostics, incorporated in 1995, is India’s largest diagnostic service provider with an extensive nationwide presence. As of November 30, 2024, Agilus operates 407 laboratories, 4,000+ customer touchpoints, and 14,000 pickup points across 532 districts in over 30 states and union territories. The company also has international operations, including labs in Dubai and joint ventures in Nepal.

Fortis Healthcare Share Performance

As of December 23, 2024, 11:38 AM, the shares of Fortis Healthcare are trading at ₹681.25 per share with a surge of 0.50% from its previous day’s closing price. Over the last month, the stock has seen a decline of 2.38%. While over the year the stock has surged by 71.88% the stock has a 52-week high and 52-week low of ₹740.35 per share and ₹375.05 per share respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.