Fortis Healthcare

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Fortis Healthcare Limited
Company type Public
BSE:  532843
NSE:  FORTIS
Industry Healthcare
Founded1996;29 years ago (1996)
Headquarters
Gurgaon
,
India
Area served
Worldwide
Key people
Ravi Rajagopal (Chairman) [1]
Products Hospitals, Pharmacy, Diagnostic centres
Revenue₹6,359 crore (US$730 million) (2023) [2]
₹920 crore (US$110 million) (2023) [2]
₹611 crore (US$71 million) (2023) [2]
Number of employees
23,000 (2023) [2]
Parent IHH Healthcare (31.1%)
Website www.fortishealthcare.com

Fortis Healthcare Limited (FHL) [3] is an Indian for-profit private hospital network headquartered in Gurgaon, India. The company began its operations in Mohali, Punjab, where the first Fortis hospital was established. It later expanded by acquiring the healthcare division of Escorts Group, including the Escorts Heart and Research Center, Okhla, [4] Delhi.

Contents

The Fortis Memorial Research Institute (FMRI) in Gurgaon [5] serves as the headquarters for Fortis Healthcare. It has been recognized in industry rankings, including being listed as the 23rd "smart hospital" globally in 2021. [6] It was also ranked the 22nd-best hospital in India by Newsweek in 2022. [7]

In addition to its Gurgaon facility, Fortis Healthcare operates hospitals in the Delhi NCR, including locations in Faridabad, Noida, Vasant Kunj, and Shalimar Bagh (Delhi), along with other facilities across India, Dubai, and Sri Lanka. The company currently manages 36 healthcare facilities. [8] [9]

Malaysia's IHH Healthcare is the largest shareholder of Fortis Healthcare, holding a 31.1% stake. In a board meeting held in Mohali, representatives from IHH Healthcare were appointed to the Fortis board. The board approved the allotment of over 230 million shares to Northern TK Venture Pte Ltd, a wholly owned subsidiary of IHH Healthcare, at a price of ₹170 per share with a ₹10 face value. [10] [11]

Other information

In 2018, Manipal Hospitals and TPG Capital acquired Fortis Healthcare Limited as part of a deal for ₹ 39,000 million. [12] [13] [14] In 2019, Fortis Healthcare announced that it had completed the acquisition of RHT Health Trust (RHT) assets for an enterprise value of ₹ 46,500 million. [15] [16] In the same financial year, Fortis reported a consolidated net profit of ₹ 780.10 million for the quarter ended 30 June. [17]

In August 2023, it was announced Fortis had completed its acquisition of Medeor Hospital in Manesar, India from VPS Healthcare for $27.23 million. [18]

Fortis is also a component of the S&P BSE 500. [19]

Collaborations

See also

References

  1. ↑ "Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO". The Economic Times. economictimes.indiatimes.com. Retrieved 7 February 2019.
  2. 1 2 3 4 "Fortis Healthcare Ltd. Financial Statements". moneycontrol.com.
  3. ↑ "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.
  4. ↑ "Fortis Escorts".
  5. ↑ "Fortis Hospital Gurgaon has 1000 beds". docprime. Retrieved 14 November 2019.
  6. ↑ "Fortis Memorial Research Institute bags recognition as smart hospital". www.biospectrumindia.com. Retrieved 16 March 2022.
  7. ↑ Newsweek (2 March 2022). "World's Best Hospitals 2022 - India". Newsweek. Retrieved 16 March 2022.
  8. ↑ "Fortis Healthcare – About Us".
  9. ↑ "FORTIS HEALTHCARE LIMITED - Company, directors and contact details | Zauba Corp".
  10. ↑ "IHH Healthcare completes Fortis deal by acquiring 31% stake". Live Mint . 14 November 2018.
  11. ↑ "Fortis Hospital Noida". Full Details Information. 26 March 2019.
  12. ↑ "Fortis Healthcare Ltd". Business Standard India.
  13. ↑ Sen, Amiti (28 March 2018). "Manipal Hospitals buys Fortis hospitals biz". @businessline.
  14. ↑ "TPG-backed Manipal acquires Fortis Health, SRL Diagnostics – Times of India ►". The Times of India. 28 March 2018.
  15. ↑ "Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore". Medical Dialogues. 17 January 2019.
  16. ↑ "Fortis Hospital Gurgaon". Full Details Information. 25 March 2019.
  17. ↑ "Fortis Healthcare reports profit of Rs 78 crore for June quarter". Medical Dialogues. 7 August 2019.
  18. ↑ nagamanigrandhi (30 August 2023). "Fortis Healthcare acquires Medeor Hospital in India for $27.23m". Hospital Management. Retrieved 30 August 2023.
  19. ↑ "FORTIS HEALTHCARE Intrinsic Value & Fundamental Analysis-16 Dec,2024". www.smart-investing.in. Retrieved 16 December 2024.
  20. ↑ "Phable partners with Fortis Hospital to provide AI driven care to patients". www.biospectrumindia.com. Retrieved 9 May 2024.
  21. ↑ Athrady,DHNS, Ajith. "CSC partners with Fortis Hospital to launch telemedicine service for rural India". Deccan Herald. Retrieved 9 May 2024.
  22. ↑ "Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes". Financialexpress. 26 June 2023. Retrieved 9 May 2024.
  23. ↑ "Fortis Bannerghatta Road joins hands with JOGO Health; to provide non-surgical, tech-driven treatment for urinary disorders - The Pharma Times | Pharma & Health Care News Portal". thepharmatimes.in. Retrieved 9 May 2024.


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