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Fortis Healthcare Limited

From EverybodyWiki Bios & Wiki


Fortis Healthcare Limited
File:Fortis Healthcare logo.svg Fortis Hospital Noida - panoramio.jpg
File:Fortis Hospital Noida - panoramio.jpg
Fortis Hospital, Noida
Public
Traded asBSE: 532843
NSE: FORTIS
ISIN🆔
IndustryHealthcare
Founded 📆1996; 30 years ago (1996)
Founder 👔
Headquarters 🏙️,
Gurgaon
,
India
Area served 🗺️
Worldwide
Key people
Ravi Rajagopal (Chairman)[1]
Products 📟 Hospitals, Pharmacy, Diagnostic centres
Revenue🤑 ₹6,359 crore (US$880 million) (2023)[2]
₹920 crore (US$130 million) (2023)[2]
₹611 crore (US$85 million) (2023)[2]
Members
Number of employees
23,000 (2023)[2]
ParentIHH Healthcare (31.1%)
🌐 Websitewww.fortishealthcare.com
📇 Address
📞 telephone

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.

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

  • Phable partners with Fortis Hospital to provide AI driven care to patients, Mar 19.[20]
  • CSC partners with Fortis Hospital to launch telemedicine service for rural India, Feb 21.[21]
  • Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes, June 23.[22]
  • Fortis Bannerghatta Road joins hands with JOGO Health, to provide non-surgical, tech-driven treatment for urinary disorders, Dec 23.[23]

See also

References

  1. ↑ "Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO". The Economic Times. economictimes.indiatimes.com. Retrieved 2019-02-07.
  2. ↑ 2.0 2.1 2.2 2.3 "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. 2024-10-29. ISSN 0013-0389. Retrieved 2024-12-16.
  4. ↑ "Fortis Escorts".
  5. ↑ "Fortis Hospital Gurgaon has 1000 beds". docprime. Archived from the original on 16 December 2019. Retrieved 2019-11-14. Unknown parameter |url-status= ignored (help)
  6. ↑ "Fortis Memorial Research Institute bags recognition as smart hospital". www.biospectrumindia.com. Retrieved 2022-03-16.
  7. ↑ Newsweek (2022-03-02). "World's Best Hospitals 2022 - India". Newsweek. Retrieved 2022-03-16.
  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 Nov 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 (2023-08-30). "Fortis Healthcare acquires Medeor Hospital in India for $27.23m". Hospital Management. Retrieved 2023-08-30.
  19. ↑ "FORTIS HEALTHCARE Intrinsic Value & Fundamental Analysis-16 Dec,2024". www.smart-investing.in. Retrieved 2024-12-16.
  20. ↑ "Phable partners with Fortis Hospital to provide AI driven care to patients". www.biospectrumindia.com. Retrieved 2024-05-09.
  21. ↑ Athrady,DHNS, Ajith. "CSC partners with Fortis Hospital to launch telemedicine service for rural India". Deccan Herald. Retrieved 2024-05-09.
  22. ↑ "Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes". Financialexpress. 2023-06-26. Retrieved 2024-05-09.
  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 2024-05-09.

External links




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