Fortis Healthcare Limited — Important, 14-02-2025: Agreements

Fortis Healthcare's wholly-owned subsidiary, Fortis Hospotel Limited, has signed definitive agreements to acquire the entire operations of Shrimann Superspecialty Hospital in Jalandhar. This acquisition is valued at approximately INR 461.90 crores, encompassing INR 423.40 crores for the hospital's business operations, INR 21.60 crores for the hospital's land, and INR 16.90 crores for adjacent land, and highlights the company's commitment to its growth strategy in Punjab.

The Shrimann Hospital, operational since 2018, is a prominent multi-specialty hospital with a capacity of 228 beds and accreditation from NABH. Its revenue has seen significant growth over the past three years, rising from INR 77.80 crores in FY22 to INR 137.40 crores in FY24.

The acquisition aligns with Fortis Healthcare's strategy to enhance its service network in Punjab, aiming to improve healthcare accessibility in the region. The transaction is expected to be completed by March 31, 2025. Investors should monitor this development, as it represents a strategic expansion opportunity in a key market.