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Fortis Health Care Limited
Company typePublic
BSE: 532843
NSE: FORTIS
IndustryHealth Care
Founded2001[citation needed]
Headquarters
Gurgaon
,
India
Area served
India, Singapore, Malaysia, UAE,Vietnam, Australia, Hong Kong
Key people
Ashutosh Raghuvanshi, CEO[1]
Revenue₹4,560 crore (US$550 million) (2018)[2]
Websitewww.fortishealthcare.com

Fortis Healthcare Limited (FHL) is a chain of 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 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]

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.

Malaysia's IHH Healthcare Bhd has become 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.[6] [7]

In 2018, Manipal Hospitals and TPG Capital acquired Fortis Healthcare Limited as part of a deal for Rs 3900 crore.[8][9][10]

In 2019, Fortis Healthcare announced that it has completed the acquisition of RHT Health Trust (RHT) assets for an enterprise value of Rs 4,650 crores.[11] [12] In 2019,Fortis Healthcare reported a consolidated net profit of Rs.78.01 Crore for the Quarter ended June 30.[13]

References

  1. ^ "Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO". economictimes.indiatimes.com. Retrieved 7 February 2019.
  2. ^ "Fortis Healthcare Yearly Results". www.moneycontrol.com. Retrieved 22 August 2017.
  3. ^ "Fortis Escorts".{{cite web}}: CS1 maint: url-status (link)
  4. ^ "Fortis Hospital Gurgaon has 1000 beds". docprime. Retrieved 14 November 2019.{{cite web}}: CS1 maint: url-status (link)
  5. ^ "Fortis Healthcare - About Us".{{cite web}}: CS1 maint: url-status (link)
  6. ^ "IHH Healthcare completes Fortis deal by acquiring 31% stake". Live Mint. 14 November 2018.
  7. ^ "Fortis Hospital Noida". Full Details Information. 26 March 2019.
  8. ^ "Fortis Healthcare Ltd". Business Standard India.
  9. ^ Sen, Amiti. "Manipal Hospitals buys Fortis hospitals biz". @businessline.
  10. ^ "TPG-backed Manipal acquires Fortis Health, SRL Diagnostics - Times of India ►". The Times of India.
  11. ^ "Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore". Medical Dialogues. 17 January 2019.
  12. ^ "Fortis Hospital Gurgaon". Full Details Information. 25 March 2019.
  13. ^ "Fortis Healthcare reports profit of Rs 78 crore for June quarter". Medical Dialogues. 7 August 2019.

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