Fortis Healthcare has announced a voluntary general offer for Parkway Holdings at an offer price of Singapore $ 3.2 per share in cash with RHC Healthcare Pte Ltd, a company jointly-owned by RHC Holding Pvt Ltd, and Fortis Healthcare Limited. The officer price represents a premium of 25.8 per cent over the closing price on May 26, 2010, the day prior to the announcement of the partial offer by Khazanah Nasional Berhad through its indirect wholly-owned subsidiary, Integrated Healthcare Holdings Ltd.

RHC Holding's principals are Malvinder Mohan Singh and Shivinder Mohan Singh. Their long-term vision for Parkway and Fortis is to manage and operate the healthcare businesses of Parkway and its group of companies and the Fortis Group so as to leverage combined competitive strengths and realise synergies between the two organisations. Together, Parkway and Fortis will create the premier healthcare services network in Asia.

Malvinder Mohan Singh, chairman of Parkway and Fortis, said, “We are continuing to build upon our investment in March this year and we see the combined platform as a way to drive long-term value for the shareholders of both Parkway and Fortis. We see great value in the Parkway brand and believe that Fortis and Parkway together will become a world-class global healthcare organisation.”

Shivinder Mohan Singh, managing director Fortis, said, “We see significant benefits in a deeper integration of Fortis and Parkway. Our vision is to manage the healthcare businesses of Fortis and Parkway as a single organisation, realise synergies between the two and create a premier pan-Asian healthcare delivery system.”

RHC Healthcare hopes to maintain Parkway's listing status on the SGX-ST so that shareholders will be given the option to participate in Parkway's future prospects.