Fortis Healthcare International, a step down subsidiary of Fortis Healthcare has finalized the sale of its Singapore hospital to Concord Medical Services for a consideration of SGD 55 million. The deal will be completed on or about Apr. 6, 2015.

Malvinder Singh, executive chairman and Shivinder Singh, executive vice chairman, Fortis Healthcare said, "Our decision to divest is in tune with our stated strategy to intensify our focus on our focus on our hospitals and diagnostics business in India. We believe that Concord Medical Services is well placed to carry on the good work that has resulted in the hospital becoming a familiar landmark for high quality healthcare in Singapore."

Shares of the company gained Rs 7.05, or 4.51%, to settle at Rs 163.45. The total volume of shares traded was 619,001 at the BSE (Friday).