| Fortis Healthcare Limited | |
| Type: | Public |
| Traded As: | |
| Location City: | Gurgaon |
| Area Served: | Worldwide |
| Key People: | Ravi Rajagopal [1] |
| Industry: | Healthcare |
| Products: | Hospitals, Pharmacy, Diagnostic centres |
| Revenue: | (2023)[2] |
| Operating Income: | (2023) |
| Net Income: | (2023) |
| Num Employees: | 23,000 (2023) |
| Parent: | IHH Healthcare (31.1%) |
| Location Country: | India |
Fortis Healthcare Limited (FHL) is an Indian for-profit private hospital network headquartered in Gurgaon, India. Fortis started its health care operations in Mohali, Punjab, where the 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. Dr. Tehran, the current MD of Medanta and several others have started their careers at this institute.
The Fortis Memorial Research Institute (FMRI) hospital at Gurgaon[4] is the headquarter and flagship hospital of Fortis Healthcare, with all the major facilities at the hospital. It was named as 23rd smart hospital in the world for the year 2021.[5] FMRI was also named the 22nd-best hospital in the country for the year 2022 by Newsweek.[6]
Apart from Fortis Escorts Okhla & FMRI, Fortis Healthcare has other units in Dehli NCR as well, which include Fortis Hospital Faridabad, Noida, Vasant Kunj, Shalimar Bagh (Delhi) and at several other places in the country. Currently, the company operates its healthcare delivery services in India, Dubai and Sri Lanka with 36 healthcare facilities.[7] [8]
Malaysia's IHH Healthcare 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 in 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.[9] [10]
In 2018, Manipal Hospitals and TPG Capital acquired Fortis Healthcare Limited as part of a deal for 39,000 million.[11] [12] [13] 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.[14] [15] In the same financial year, Fortis reported a consolidated net profit of 780.10 million for the quarter ended 30 June.[16]
In August 2023, it was announced Fortis had completed its acquisition of Medeor Hospital in Manesar, India from VPS Healthcare for $27.23 million.[17]
Fortis is also a component of the S&P BSE 500.