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

Fortis Healthcare Limited, through its wholly-owned subsidiary Fortis Hospotel Limited (FHTL), has signed definitive agreements for the acquisition of Shrimann Superspecialty Hospital located on the Jalandhar Pathankot Highway. This acquisition aligns with Fortis’s cluster-focused growth strategy, enhancing its healthcare network in Punjab, particularly in Jalandhar. The total consideration for this transaction is INR 461.90 crores, which includes INR 423.40 crores for the hospital's operations, INR 21.60 crores for the hospital's land, and INR 16.90 crores for adjacent land. Shrimann Hospital, established in 2018, has a bed capacity of 228, contributing significantly to the region's healthcare services, with a revenue of INR 137.40 crores in FY24. The transaction is expected to close by March 31, 2025, bolstering Fortis's capacity to deliver high-quality healthcare. This development indicates a positive outlook for growth and increased market presence in Punjab.