Fortis Healthcare

Fortis Healthcare Limited (FHL) is a chain of private hospitals headquartered in India. Fortis started its health care operations from Mohali where first Fortis hospital was started. Later on, the hospital chain purchased the healthcare branch of Escorts group and increased its strength in various parts of the country. The Escorts Heart and research Center, Okhla,[3] Delhi became a major operating unit of the chain which was headed by Naresh Trehan until he started his own chain of hospitals by the name Medanta. The FMRI hospital at Gurgaon[4] is the headquarter of Fortis healthcare with all the major facilities at the hospital. Currently, the company operates its healthcare delivery services in India, Dubai and Sri Lanka with 36 healthcare facilities.[5][6]

Fortis Healthcare Limited
TypePublic
BSE: 532843
NSE: FORTIS
IndustryHealthcare
Founded1996 (1996)
FoundersShivinder Mohan Singh
Malvinder Mohan Singh
Headquarters
Gurgaon
,
India
Area served
Asia
Key people
Ashutosh Raghuvanshi (CEO)[1]
ProductsHospitals, Pharmacy, Diagnostic centres
Revenue₹4,684 crore (US$660 million) (2020)[2]
₹432 crore (US$61 million) (2020)[2]
₹79 crore (US$11 million) (2020)[2]
Number of employees
15,582 (2020)[2]
ParentIHH Healthcare
Websitewww.fortishealthcare.com

Fortis Healthcare was initially founded by Shivinder Mohan Singh and Malvinder Mohan Singh before the controversies and transferring of controlling share to Malaysia's IHH Healthcare.

Malaysia's IHH Healthcare Bhd became the controlling shareholder of Fortis Healthcare Ltd by acquiring a 31.1% stake in the company. Fortis Healthcare also appointed four persons from IHH Healthcare to its board in a meeting held at Mohali. The board approved the allotment of over 230 million shares through preferential issue to Northern TK Venture Pte Ltd, a wholly owned indirect subsidiary of IHH Healthcare, at ₹170 per share of ₹10 face value.[7][8]

Other information

In 2018, Manipal Hospitals and TPG Capital acquired Fortis Healthcare Limited as part of a deal for ₹ 39,000 million.[9][10][11] 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.[12][13] In the same financial year, Fortis reported a consolidated net profit of ₹ 780.10 million for the quarter ended 30 June.[14]

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

See also

References
  1. "Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO". economictimes.indiatimes.com. Retrieved 7 February 2019.
  2. "Fortis Healthcare Ltd. Financial Statements". moneycontrol.com.
  3. "Fortis Escorts".
  4. "Fortis Hospital Gurgaon has 1000 beds". docprime. Retrieved 14 November 2019.
  5. "Fortis Healthcare - About Us".
  6. https://www.zaubacorp.com/company/FORTIS-HEALTHCARE-LIMITED/L85110PB1996PLC045933
  7. "IHH Healthcare completes Fortis deal by acquiring 31% stake". Live Mint. 14 November 2018.
  8. "Fortis Hospital Noida". Full Details Information. 26 March 2019.
  9. "Fortis Healthcare Ltd". Business Standard.
  10. Sen, Amiti. "Manipal Hospitals buys Fortis hospitals biz". @businessline.
  11. "TPG-backed Manipal acquires Fortis Health, SRL Diagnostics - Times of India ►". The Times of India.
  12. "Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore". Medical Dialogues. 17 January 2019.
  13. "Fortis Hospital Gurgaon". Full Details Information. 25 March 2019.
  14. "Fortis Healthcare reports profit of Rs 78 crore for June quarter". Medical Dialogues. 7 August 2019.

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