Fortis Healthcare drops sale of stake in RHT Health Trust

Talks with interested parties fell apart.

Fortis Healthcare has dropped its decision to sell its stake in RHT Health Trust and its trustee manager, RHT Health Trust Manager, an announcement revealed.

Fortis Healthcare, through its subsidiaries Fortis Healthcare International Limited (FHIL) and Stellant Capital Advisory Services Private Limited (Stellant), conducted preliminary discussions with parties that gave their proposals related to the potential sale.

“However, no firm proposal which was commercially viable was received by Fortis, FHIL and/or Stellant, and no agreement (binding or non-binding) has been reached by Fortis or any of its subsidiaries with any of these parties in connection with the potential sale or any other transaction involving RHT and/or the trustee-manager,” the company added.

FHIL and Stellant have therefore ceased to actively explore other options for the sale, RHT said. But, RHT will continue to consider various options available for RHT, including identifying any possible new business.