Indian hospital operator Fortis Healthcare’s purchase of a big stake in Singapore-based Parkway Holdings could lead to a major shakeup in the global healthcare industry. Parkway has long enjoyed a reputation of being the best of the best. India, too, has ambitions to be a major player in the medical tourism business. Indian hospitals are generally much less expensive than those in Singapore or other medical tourism destinations such as Thailand or the Philippines.
By buying a 23.9% stake in Parkway from the US private equity firm TPG for $687 million, Fortis has now positioned itself to become the regional leader in medical tourism, with a strong presence in India (where it has 46 hospitals) for the most price-sensitive patients and a new base in Singapore for higher-end customers aiming for more luxury.
