Fortis plans hospital in Hyd

Hospital chain Fortis is looking to expand its presence by setting up a hospital in Hyderabad.

This apart, the company would take the inorganic route for growth here, said Daljit Singh, president, strategic and organisational development, Fortis.

Speaking to Business Standard on the sidelines of a healthcare and pharma conclave here at ISB on Friday, he said, “We want to have a strong presence in the central part of South India. Hyderabad is our consideration.”

The group is not making any representation to the state government for land, he said, adding that Fortis Hyderabad was part of the company’s bigger plan to set up about 40 hospitals across the country with an investment of Rs 1,500-2,000 crore.

“We are exploring all modes of growth including greenfield, brownfield, joint venture, merger and acquisition,” Singh said. Apart from internal sources, it would raise debt from financial institutions or take the PE route.

On mergers and acquisitions, he said they were like marriages.

“I like the girl. But I do not know if she wants to marry me or not,” he said, adding discussions were on. He declined to name the partner in Hyderabad or the investment that will go in here.

There would be at least 10 hospitals in tier II cities. These would typically have about 100-beds and cater to about 85 per cent of the health needs in these cities. If need be, the patients will be referred to its hub hospitals in the metros. Fortis is keen on having centres of excellence and super specialties in the metros, he said.