Fortis Healthcare Limited Acquires 7.61% Stake In Agilus Diagnostics For Rs 429 Crore | Fortis Healthcare buys 7.61% stake in Agillus Diagnostics: Deal signed for Rs 429 crore, company’s stake in Agillus increases to 31.52%

Fortis Healthcare Ltd has bought 7.61% stake in Agillus Diagnostics Ltd. The company has purchased 59,70,149 equity shares from International Finance Corporation (IFC). Agillus Diagnostics is a material subsidiary of IFC.

The transaction, valued at Rs 429.37 crore, was executed at a price of ₹719.2 per share under the terms of the shareholders’ agreement, Fortis Healthcare told BSE-NSE.

Agilas was started in July 1995

Agillus Diagnostics’ standalone revenue from operations as of March 31, 2024 was Rs 858.8 crore. Consolidated revenue was Rs 1372 crore. The company was started in July 1995. It has presence all over India.

As of November 30, 2024, Agillus Diagnostics had 407 labs, over 4000 customer touchpoints and 14000 pickup points across 532 districts and over 1000 towns in over 30 states and union territories. Outside the country, the company also has labs in Dubai and Nepal.

Fortis will hold 31.52% stake in Agillus

Fortis Healthcare will further purchase 1,24,37,811 equity shares i.e. 15.86% stake in Agillus Diagnostics from NJBIF and 63,10,315 equity shares i.e. 8.05% stake from Resurgence PE Investments Limited. After this Fortis Healthcare will hold 31.52% stake in Agillus Diagnostics.

Fortis gave 73% return in one year

On December 20, Fortis Healthcare shares closed at Rs 674.95 with a decline of 0.43%. The company’s shares have given 73% returns in one year. The market cap of the company is Rs 51,100 crore. The stock has fallen 5% in the past week.

Promoters held 31.17% stake in the company by the end of September 2024. Fortis Healthcare’s revenue in the July-September 2024 quarter was Rs 357.15 crore and net profit was Rs 39.63 crore.