Singapore- The takeover battle for Fortis Healthcare intensified after KKR-backed Radiant Life Care Private Ltd entered the fray with an offer to buy more than a quarter of the cash-strapped company's hospital business. 

In its non-binding offer, Radiant has proposed to make an investment and/or re-structure Fortis Healthcare.
Radiant is interested in participating as a strategic investor in Fortis.

Radiant, the fifth suitor, proposed a demerger of the hospital from Fortis Healthcare (FHL) into a new company, excluding FHL's stake in Indian diagnostics chain SRL Ltd. 

KKR & Co owns a 49 percent stake in Radiant with its $200 million investment in 2017.