Restructuring at Religare Health Trust for better cost controls (ST)
BY Mok Fei Fei
Source: The Straits Times, 20 January 2014
Religare Health Trust (RHT) has completed an internal restructuring exercise.
It announced to the Singapore Exchange (SGX) today that it amalgamated several units.
Under the exercise, the business units of Escorts Hospital and Research Centre, Escorts Heart and Super Speciality Institute and Kanishka Healthcare have been transferred to International Hospital Limited.
All the units are whollyowned subsidiaries of RHT.
The exercise, which received court approval in India, was completed last Friday.
The trustee-manager of RHT said the exercise was carried out to streamline the business and operations of its key subsidiaries in India.
It added that administrative and overhead costs will be reduced as a result of the restructuring.
The restructuring is also not expected to have any material impact on the earnings per unit, net asset value per unit or distribution per unit of RHT for the financial year ending March 31.
RHT, a business trust listed on the SGX, has a portfolio of health-care assets in India.