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

Fortis Healthcare Limited's wholly-owned subsidiary, Fortis Hospotel Limited (FHTL), has signed definitive agreements to acquire Shrimann Superspecialty Hospital located on the Jalandhar Pathankot Highway. The total consideration for this acquisition amounts to INR 461.9 crores, including INR 423.40 crores for the hospital's business operations, and additional amounts for the land on which it is situated and adjacent land.

This strategic acquisition aligns with Fortis Healthcare’s inorganic growth strategy, enhancing its network in Punjab and expanding its presence in key cities such as Mohali, Amritsar, and Ludhiana. The Shrimann Hospital, which is NABH accredited, has a current capacity of 228 beds and recorded revenues of INR 137.40 crores in the last fiscal year. The transaction is expected to be finalized by March 31, 2025. Overall, this move presents a positive outlook for Fortis by strengthening its market position and capacity to deliver quality healthcare services in Jalandhar.