Singapore healthcare firm invests in Australian dental services provider 21 January 2011 Pan-Asian healthcare provider Fortis Global Healthcare Holdings will invest A$100 million to acquire a minority interest in Dental Corporation, one of Australia’s largest providers of dental services. The funds will be used by Dental Corporation to continue to expand its network of premium dental practices across Australia and New Zealand. Since partnering with its first practice in October 2007, Dental Corporation now owns and operates 139 dental practices across Australia and New Zealand with annual revenue of more than A$250 million. Mark Evans, Executive Chairman and co-founder of Dental Corporation, said, “The investment by Fortis is a fantastic outcome and follows an extensive process to introduce the best strategic partner with the vision and financial strength to assist us deliver our long term growth plans. “The Fortis investment will allow us to continue to expand in Australia and New Zealand and should present opportunities in Asia through the Fortis network,” he said. Fortis Global Healthcare will appoint two executives to the Dental Corporation board. The final transaction structure is subject to FIRB and Dental Corporation shareholder approval. In October 2010, Fortis Global became the largest primary healthcare provider in Hong Kong after its acquisition of Hong Kong-listed Quality Healthcare. The owners of Fortis Global Healthcare Holdings also own a majority stake in the Indian-listed Fortis Healthcare Limited, a leading private hospital chain in India. More information |