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Fortis Healthcare

Fortis Healthcare Limited (FHL) is an Indian for-profit private hospital network headquartered in Gurgaon. The company began its operations in Mohali, Punjab, where its first hospital was established. It later expanded by acquiring the healthcare division of Escorts Group, including the Escorts Heart and Research Center, Okhla, Delhi.

The Fortis Memorial Research Institute (FMRI) in Gurgaon serves as the headquarters for Fortis Healthcare.[3][4] In addition to its Gurgaon facility, Fortis Healthcare operates hospitals in the Delhi NCR, including locations in Faridabad, Noida, Vasant Kunj, and Shalimar Bagh, along with other facilities across India, Dubai, and Sri Lanka. The company currently manages 36 healthcare facilities.[5][6]

History

In 2018, Manipal Hospitals and TPG Capital offered to acquire Fortis Healthcare for ₹3,900 crore.[7][8][9] After a bidding war,[10] Malaysia's IHH Healthcare completed the acquisition of a 31.1% controlling stake for ₹4,000 crore. Representatives from IHH Healthcare were appointed to the Fortis board.[11]

In 2019, Fortis Healthcare announced the acquisition of RHT Health Trust (RHT) assets for an enterprise value of ₹4,650 crore.[12]

In August 2023, Fortis announced the completion of its acquisition of Medeor Hospital in Manesar from VPS Healthcare for $27.23 million.[13]

In 2024, Fortis Healthcare announced that it would acquire a 31% stake held by private equity firms in its diagnostics subsidiary, Agilus Diagnostics, for ₹1,780 crore.[14]

See also

References

  1. ^ "Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO". The Economic Times. economictimes.indiatimes.com. Retrieved 7 February 2019.
  2. ^ a b c d "Fortis Healthcare Ltd. Financial Statements". moneycontrol.com.
  3. ^ "Fortis Memorial Research Institute bags recognition as smart hospital". www.biospectrumindia.com. Retrieved 16 March 2022.
  4. ^ Newsweek (2 March 2022). "World's Best Hospitals 2022 - India". Newsweek. Retrieved 16 March 2022.
  5. ^ "Fortis Healthcare – About Us".
  6. ^ "FORTIS HEALTHCARE LIMITED - Company, directors and contact details | Zauba Corp".
  7. ^ "Fortis Healthcare Ltd". Business Standard India.
  8. ^ Sen, Amiti (28 March 2018). "Manipal Hospitals buys Fortis hospitals biz". @businessline.
  9. ^ "TPG-backed Manipal acquires Fortis Health, SRL Diagnostics". The Times of India. 28 March 2018.
  10. ^ "Timeline: Fortis Healthcare bidding war - The story so far". Reuters. Retrieved 23 April 2025.
  11. ^ "IHH Healthcare completes Fortis deal by acquiring 31% stake". Live Mint. 14 November 2018.
  12. ^ "Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore". Medical Dialogues. 17 January 2019.
  13. ^ nagamanigrandhi (30 August 2023). "Fortis Healthcare acquires Medeor Hospital in India for $27.23m". Hospital Management. Retrieved 30 August 2023.
  14. ^ "Fortis Healthcare gets CCI nod to acquire additional stake in Agilus Diagnostics for Rs 1,780 cr". The Economic Times. 29 October 2024. ISSN 0013-0389. Retrieved 16 December 2024.