Fortis Hospitals

Move aims to strengthen chain's Punjab cluster with over 1,000 beds

Fortis Healthcare Ltd on Friday said one of its subsidiaries has received a tax demand of Rs 89.53 crore, including interest for the assessment year 2022-23. Fortis Hospitals Ltd, a material subsidiary of the company has received an Income tax assessment order dated March 21, 2024, wherein a demand of Rs 89.53 crore, including interest of Rs 9.54 crore has been raised, Fortis Healthcare said in a regulatory filing. "The company is evaluating the said order and will take appropriate actions in due course," it added. The expected financial implication on Fortis Hospitals Ltd is Rs 89.53 crore, the company said.

Fortis Malar Hospitals Ltd on Friday said it will sell Malar Hospital at Gandhi Nagar in Chennai for Rs 45.5 crore to MGM Healthcare Pvt Ltd. The company has signed a definitive agreement for the sale of its business operations pertaining to Malar Hospital at Gandhi Nagar, Adyar, Chennai, to MGM Healthcare (MGM), a prominent healthcare delivery service provider, Fortis Malar Hospitals Ltd said in a regulatory filing. The sale consideration is about Rs 45.5 crore, it added. Adjunct to this transaction, the OPD and radio diagnostics business operations related to the Malar Hospital, including the land and building, and the adjacent land parcels, are also being divested by two wholly owned subsidiaries of Fortis Healthcare Ltd -- Fortis Health Management Ltd, and Hospitalia Eastern Pvt Ltd -- to MGM, it added. Fortis Healthcare owns a 62.7 per equity stake in Fortis Malar Hospitals. The transaction will be an all-cash deal and is expected to be consummated by the end of January, sub

With the acquisition of Vadapalani facility with over 200 beds, Kauvery would have over 750 beds in Chennai together with its existing facilities at Alwarpet and Radial Road

The 500 robot-aided surgeries include complex robotic procedures encompassing the entire gamut of Uro-Oncology, Uro-Gynaecology, Reconstructive Urology and Kidney Transplant

Fortis Healthcare Ltd plans to add around 1,500 new beds to its network to take the total to around 5,000 beds in the next three years, according to company officials. The company has also lined up a capex of Rs 400 crore for the ongoing fiscal which will be divided equally on maintenance and growth programmes. The healthcare chain is continuing with its portfolio rationalisation programme aligning with its focus on cluster approach to grow both organically via brownfield expansion and inorganically in geographies of Delhi-NCR, Maharashtra, Bangalore and Kolkata, Fortis Healthcare Ltd Managing Director and CEO Ashutosh Raghuvanshi told analysts. "Our plans to add 1,200 beds in the existing facilities over the next few years are well underway," he said. Elaborating on the new beds addition programme, Fortis Healthcare CFO Vivek Kumar Goyal said at present the company had 4,000 beds and the target is to reach around 5,000 beds in the next three years. Stating that the company's "1,3

The platform runs on a software called Power BI, a data visualisation tool that evaluates the vitals of all patients in ICUs in over 15 districts of Karntaka

Company to also launch a digital solution for all healthcare needs and plans to rope in partners

Fortis already operates a 170-bed multispecialty hospital in the city

Trust is running low and the big chains, Max, Apollo, Fortis and others are keen to retune the pitch with new services

The share of labs run by private hospitals is growing on the list of those that have permission to test reverse transcription polymerase chain reaction (RT-PCR).

Hospitals devise protocols to help deal with the surge in the number of patients

The largest listed player in this space, Apollo Hospitals, has been a standout performer with growth being led by both hospitals and pharmacy businesses.

Additional Sessions Judge Sandeep Yadav extended Singh's custody by the Enforcement Directorate after it sought his 7-day custodial interrogation

Foreign patients help hospitals increase occupancy, improve cash flow, build brand profile overseas, and serve as a hedge against currency volatility

Sebi is probing suspected insider trading by some institutional investors and other regulatory lapses at Fortis Healthcare amid a takeover battle and boardroom upheaval at the hospital chain

In April, institutional investors had sought removal of these four independent directors - Brian Tempest, Harpal Singh, Sabina Vaisoha and Tejinder Singh Shergill

The hospital chain is looking to expand its network in the metros as well as the smaller towns