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

Parkway Holdings' current Chairman, Mr. Richard Seow announced his intention to resign in an event presided over by the Health Minister Khaw Boon Wan. Fortis plans to hunt for four seats on the board of directors of Parkway. Mr. Malvinder Mohan Singh will be nominated as Parkway Holdings' new Chairman for the Delhi-based Fortis Healthcare.

A new five-story wing is planned to be constructed in the near future, in order to fulfill the ever increasing demand for medicine, orthopedic treatment, general surgery as well as maternity care. The new wing will be facilitated with three 35-bed wards for the same categories.

A new VIP suite and some new shops will be opened and the existing rooms will be upgraded. These attractions have driven 10 more specialist clinics to set up shops there. Dr. Tan, Parkway East Hospital Chief Executive said, "There's been a strong demand from specialists who want to come and practice here, because there is a strong demand in the eastern part of Singapore".