Recently, Fortis Global Healthcare has purchased a hospital in Singapore for S$33 million or 115 crore from First Real Estate Investment Trust. Fortis Global Healthcare is owned by Indian billionaire brothers, Malvinder Mohan Singh and Shivinder Mohan Singh Fortis Global Healthcare is a major player in the healthcare industry.

The shares of Fortis Healthcare saw an intraday high of one hundred and seventy six rupees and ninety five paisa and witnessed low of one hundred and seventy three rupees and twenty paisa within the same day.

Reports say that a consortium of Indian and overseas banks, led by Axis Bank, India's third largest lender, is mobilizing funds required to finance Fortis Healthcare's acquisition of Singapore-based hospital chain, Parkway Holdings.

As a scuffle between India's Fortis and Malaysian sovereign fund Khazanah to take over healthcare provider Parkway Holdings drags on, a fall in the Dow is likely to give Singapore stocks a tepid start.

After the Federal Reserve demoted its assessment of the economic upturn as it vowed to keep cheap money flowing, the U.S. stocks mostly fell in a variable session.

Singapore’s securities regulator have permitted a time frame of July 30 to India’s Fortis Healthcare to unveil its decision over Malaysian sovereign fund Khazanah’s bid for the hospital chain, Parkway Holdings in shareholders’ interest.

Fortis possess the biggest shareholder in Parkway accounting to a 25.3% stake. Khazanah has proposed to raise its stake in Parkway to 51.5% compared to 24% at $3.78 a share.

India's Fortis Healthcare has more time to think whether it intends to make a full offer for hospital operator Parkway Holdings, as Singapore's securities regulator has asked it to report the same before July 30. Fortis Healthcare shared that it has been keeping its options open over a counterbid for Parkway, followed by the statement from the Securities Industry Council on Wednesday.

Fortis Healthcare managed to acquire 23.9 per cent stake in Singapore-based healthcare firm Parkway Holdings for $685.3 million.