After completion of its mandatory tender offer in Fortis Healthcare and Fortis Malar Hospitals, Malaysian health care giant IHH Healthcare is aiming to add 2,000 beds in a bid to double down on value creation in India. IHH, which is Asia's largest multinational private healthcare provider, currently has over 5,000 beds across a combined network of 35 hospitals and 11 states.
With over 45 healthcare facilities and over 300 vibrant diagnostic centres, Fortis is India's second-largest hospital chain -- next only to Apollo, which has 64 hospitals with 10,000 beds. Therefore, any international or domestic hospital chain that buys Fortis will simply catapult to the numero uno position.
The company will use the proceeds to fund its expansion plan and repay debt.
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
The group currently boasts a total strength of 8,000 beds and 56 multi-specialty hospitals across the globe.
Fortis International has made seven acquisitions in 10 markets.
Fortis Healthcare Chairman Malvinder Mohan Singh on Wednesday said it planned to launch an IPO for its diagnostics business unit, Super Religare Laboratories (SRL), in 2011. SRL had acquired the diagnostics business of Piramal Healthcare for Rs 600 crore in the first quarter of this financial year.
Fortis Healthcare on Thursday said it has inked a pact with the VPS Group to acquire Manesar-based Medeor Hospital for Rs 225 crore. The healthcare major said it has signed definitive agreements to acquire Medeor Hospital for an overall purchase consideration of Rs 225 crore. The hospital has a potential capacity of 350 beds and can be operationalised in a phased manner in around nine months, it added.
'Cancer incidence is projected to increase by 12.8 per cent by 2025 compared with 2020, necessitating more dedicated cancer treatment centres and specialised beds.'
'Defence, capital goods, engineering, capital market-related stocks, autos, and cement sectors are my bullish bets for Samvat 2082.'
On Wednesday, Daiichi Sankyo's lawyers argued for a stay on stake sale by Fortis, which was opposed by counsels of the hospital chain and promoter entities.
The company said this was 'important' to reinforce the 'complete disassociation' from its erstwhile promoters -- Malvinder and Shivinder Singh.
While Q2FY26 is expected to be mildly disappointing for the hospital sector, there's a lot of investor optimism for the future. This comes after a favourable revision in rates for Central Government Health Scheme (CGHS) procedures, as well as expectations of rising occupancy and growth in average revenue per operating bed (ARPOB).
Analysts feel Fortis Healthcare share holders are at a disadvantage and deal valuations had been short of expectations
Ranbaxy Group company Fortis Healthcare is targeting a pan-India presence with plans to set up 40 super-speciality hospitals by 2010.
Fortis Healthcare Limited, part of Ranbaxy Group, has announced plans to increase the number of its hospitals from 10 to 25 in the next 3 to 4 years, with a vision to set up a world class super speciality network.
Move comes within months of acquiring Wockhardt hospitals. Fortis Healthcare, a hospital chain promoted by former Ranbaxy owners Malvinder Mohan Singh and Shivinder Mohan Singh, is close to a major acquisition overseas
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
A bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta held the former Ranbaxy promoters guilty of contempt of court and said that they had violated its earlier order by which the sale of their controlling stakes in Fortis Group to Malayasian firm IHH Healthcare was put on hold.
DLF has entered into an agreement for floating a joint venture with Ranbaxy group company Fortis Healthcare to set up hospitals across the country with about Rs 6,200 crore (Rs 62 billion) of investments.
Three big private hospital chains -- Apollo, Fortis and Max -- on Friday announced the launch of Covid-19 immunisation drive for the 18-44 age group at limited centres in the country from May 1 while the Delhi government said it will start the vaccination exercise once it receives doses from the manufacturers.
Ranbaxy Group company Fortis Healthcare Ltd on Monday said it plans to have 25 hospitals across the country in the next three years and is looking into the possibility of tapping the capital markets for expansion.
Hospital chain Fortis Healthcare on Thursday said it is acquiring 23.9 per cent stake in the Singapore-based healthcare firm Parkway Holdings for about $685.3 million (nearly Rs 3,100 crore).
Envisaged as a "one-stop shop" for healthcare at Emaar MGF residential complexes and other locations, the hospitals will focus on upper secondary and lower tertiary levels of treatment facilities, sources said. Each hospital will have a bed capacity of 75 to 125 beds.
Analysts are expecting pharmaceutical companies to post sales growth of 10-11 per cent in the second quarter this financial year while the Ebitda (earnings before interest, tax, depreciation, and amortisation) margins are anticipated to improve by about 110 basis points. Ebitda improvement will be led by lower input costs because prices of active pharmaceutical ingredients (APIs) are 5-15 per cent lower year-on-year (Y-o-Y). Axis Capital said sales growth would be around 10 per cent, of which growth in the India market would be 11 per cent or so.
UK based Trinity Capital (Eight) Limited has increased its stake in Ranbaxy group promoted Fortis Healthcare Limited (FHL) to four per cent from one per cent, through an additional investment of Rs 87 crore.
Fortis Global Healthcare on Thursday said it has acquired a specialised under construction cancer hospital in Singapore from First Real Estate Investment Trust for a consideration of SGD 33 million (over Rs 115 crore).
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
'Every hospital now tracks length of stay closely.' 'More efficiency is brought into the system now.'
Apollo Hospitals and Fortis Healthcare are open to importing vaccines.
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
"My family reputation kept me a silent spectator, as I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our legacy, our finances and my personal credibility."
Essel Group, Reliance Jio, Fortis and 17 others on Thursday signed initial pacts to invest over Rs 39,000 crore (Rs 390 billion) in Uttar Pradesh, with Chief Minister Akhilesh Yadav promising the investors all possible support.
Ranbaxy group company Fortis Healthcare has said its acquisition of Escorts Heart Institute and Research Centre from Rajan Nanda's Escorts did not require "prior consent of Delhi Development Authority".
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.
Home healthcare remains a niche segment in India even today. Nightingale provides services, starting from family physicians, short- and long-term nursing care, post-hospitalisation care and physiotherapy to stroke rehabilitation, respiratory care, bedside caregivers and attendants, intensive care at home, lab tests and speech therapy.
Better margins, lower interest outgo could see the company turn profitable in FY15.
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