Aug 19 Japan's Mitsui & Co and U.S.
private equity firm Carlyle Group have submitted
preliminary bids for Quality Healthcare Medical Services, which
is being sold by India's Fortis Healthcare and is
valued at around $300 million, people familiar with the matter
Established in 1868, Quality Healthcare is the largest
provider of healthcare services to corporations in Hong Kong,
with a network of 50 medical centres, more than 500 affiliated
clinics and more than 20 dental and physiotherapy centres.
At least 10 suitors submitted bids by last week's deadline,
including buyout firm Advent International and other companies,
one of the persons with direct knowledge of the matter told
Mitsui and Carlyle declined to comment and Advent also did
not comment. A Fortis spokesman in India declined to comment.
Quality Healthcare was bought by a vehicle owned by
Malvinder Mohan Singh and his brother Shivinder in October 2010
for HK$1.5 billion or about $190 million. In 2011, Fortis
Healthcare had acquired all the international operations of the
The sources declined to be identified as the discussions