India Eco Summit: Fortis Healthcare to set up 3 more hospitals

Fortis Healthcare today said it is looking at adding three more hospitals to its chain with a total investment of nearly Rs 300 crore post Wockhardt acquisition.

"Currently, two of our greenfield hospitals are under construction and after that we are looking to add three more, which would have a capacity of up to 600 beds," Fortis Healthcare Managing Director Shivinder Mohan Singh told reporters on the sidelines of the India Economic Summit here.

Asked about the investment, he said the average cost per bed is around Rs 50 lakh, so the total investment would be around Rs 300 crore.

Fortis had in August announced the acquisition of 10 hospitals from Wockhardt for Rs 909 crore. The deal is expected to be completed by the year-end.

However, he declined to give further details.

Singh said the acquisition of Wockhardt is on track and is scheduled to be completed by December this year.

Speaking about the growth in revenue from Wockhardt, he said, "Wockhardt has reported a revenue of Rs 313 crore in the last fiscal and we expect 20 per cent growth over it."