Fortis Gives Up Parkway, To Pursue Other Opportunities In SE Asia

Fortis Healthcare, which lost out in a battle for control of Singapore healthcare firm Parkaway Holdings, said it will pursue other opportunities in Singapore and the region.

Malaysian state investor Khazanah offered S$3.95 ($2.88) per share for Parkway on Monday, and Fortis, which owns about 25 percent of the firm, said it will accept.

"Our decision to exit our investments...was made after carefull assessment in light of other growth opportunities available to us across the region and globally," Malvinder Singh, the chairman of both Fortis and Parkway, said in a statement.

Fortis will also study the possibility of a secondary listing in Singapore, he said.