Fortis seeks shareholders nod for name change

Fortis Healthcare today said it is seeking shareholders' approval to change its name to Fortis Healthcare (India) to align with its strategy to focus on the domestic market.

"In order to capitalise the substantial growth opportunities in India, the company will primarily focus on India operations and further to ensure both, clarity and alignment, internally and externally it is now proposed to change the name of the company...," Fortis said in a filing to the Bombay Stock Exchange (BSE).

The company's board has already given its approval for the change in the name of the company, it added.

It is now seeking shareholders' approval through a postal ballot and has fixed February 16, 2011 as the final date for receipt of response from them.

The results of the postal ballot will be announced on February 21, the company said.

Fortis has a network of 53 hospitals with over 8,000 beds spread across 13 states in the country and is expanding its geographical reach and market share in the Indian healthcare sector.

Shares of Fortis Healthcare today closed at Rs 140 on the BSE, up 4.21% from its previous close.