Fortis CEO plans to cut spending by 20% to nurse hospital back to health

Even with its bold new plans, Fortis has not yet left its checkered past completely behind

The new chief executive officer at Fortis Healthcare plans to cut a fifth of costs to resuscitate India’s second-largest hospital chain after a regulator found it was defrauded of tens of millions of dollars by its former owners.

Fortis is now looking to squeeze spending in everything from energy-efficient light fixtures to automating its business analysis unit and even renegotiating doctors’ salaries. The goal is to reduce expenses by $31 million over the next two years, Ashutosh Raghuvanshi, the CEO who took over in March, said in an interview at the company’s headquarters outside New Delhi. Fresh capital expenditure of $84