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{{Short description|Indian multinational chain of private hospitals}}{{pp-semi-indef|small=yes}}
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{{news release|1=article|date=November 2017}}
{{Multiple issues|
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{{cleanup-PR|1=article|date=November 2017}}
{{COI|date=September 2021}}
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{{Use British English|date=March 2013}}
{{Use British English|date=March 2013}}
{{Use dmy dates|date=March 2013}}
{{Use dmy dates|date=October 2020}}

{{Infobox company
{{Infobox company
| name = Fortis Health Care Limited
| name = Fortis Healthcare Limited
| logo = [[Image:Fortis logo.jpg|200px]]
| logo = Fortis_Healthcare_logo.svg
| image = Fortis Hospital Noida - panoramio.jpg
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| type = [[Publicly held company|Public]] {{BSE|532843}}, {{NSE|FORTIS}}
| image_caption = Fortis Hospital, Noida
⚫
| industry = Health Care
| type = [[Public company|Public]]
⚫
| traded_as = {{BSE|532843}}<br />{{NSE|FORTIS}}
| genre =
| genre =
| fate =
| fate =
| successor =
| successor =
| foundation = {{start date and age|df=yes|1996}}
| foundation = 2001<ref>{{cite web |author=Travel and health in India |url=http://www.indiaheals.com/Fortis.html |archive-url=https://web.archive.org/web/20070111001000/http://www.indiaheals.com/Fortis.html |dead-url=yes |archive-date=11 January 2007 |title=Fortis: medical health tourism service provider |publisher=Indiaheals.com |date= |accessdate=2010-07-25 |df=dmy-all }}</ref>
| founder = Malvinder Mohan Singh
| defunct =
| defunct =
| location_city = [[Gurgaon]]
| location_city = [[Gurgaon]]
| locations =
| locations =
| area_served = [[India]], Singapore, Malaysia, UAE,
| area_served = Worldwide
| key_people = Ravi Rajagopal {{small|(Chairman)}}<ref>{{cite news|url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/fortis-healthcare-appoints-dr-ashutosh-raghuvanshi-as-its-new-ceo/articleshow/67885367.cms|title=Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO|newspaper=The Economic Times|publisher=economictimes.indiatimes.com |access-date=2019-02-07}}</ref>
Vietnam, Australia, Hongkong
⚫
| industry = [[Healthcare]]
| key_people =
| products = [[Hospitals]], [[Pharmacy]], [[Medical diagnosis|Diagnostic centre]]s
| products =
| services =
| services =
| revenue = {{INRConvert|4573.7|c}} (2017)<ref>{{cite web|url=http://www.moneycontrol.com/financials/fortis%20health/results/consolidated-yearly/FH |title=Fortis Healthcare Yearly Results |publisher=www.moneycontrol.com |date= |accessdate=2017-08-22}}</ref>
| revenue = {{INRConvert|6359|c}} (2023)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/hospitalsmedical-services/fortishealthcare/FH|title=Fortis Healthcare Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income =
| operating_income = {{INRConvert|920|c}} (2023)<ref name="Financials"/>
| net_income =
| net_income = {{INRConvert|611|c}} (2023)<ref name="Financials"/>
| aum =
| assets =
| assets =
| equity =
| equity =
| num_employees = 23,000 (2023)<ref name="Financials"/>
| owner = <big><b>[[Malvinder Mohan Singh]]
| parent = [[IHH Healthcare]] (31.1%)
| num_employees = 50,000 (2017)<ref>https://www.linkedin.com/company/fortis-healthcare?trk=extra_biz_viewers_viewed</ref>
| parent =
| divisions =
| divisions =
| subsid =
| subsid =
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}}
}}


'''Fortis Healthcare Limited''' ('''FHL''')<ref>{{Cite news |date=2024-10-29 |title=Fortis Healthcare gets CCI nod to acquire additional stake in Agilus Diagnostics for Rs 1,780 cr |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/fortis-healthcare-gets-cci-nod-to-acquire-additional-stake-in-agilus-diagnostics-for-rs-1780-cr/articleshow/114739151.cms?from=mdr |access-date=2024-12-16 |work=The Economic Times |issn=0013-0389}}</ref> is an Indian [[For-profit hospital|for-profit]] [[Private hospital|private]] [[hospital network]] headquartered in [[Gurgaon]], [[India]]. Fortis started its health care operations in [[Mohali]], [[Punjab, India|Punjab]], where the first Fortis hospital was started. Later on, the hospital chain purchased the healthcare branch of [[Escort|Escorts]] group and increased its strength in various parts of the country. The Escorts Heart and Research Center, [[Okhla]],<ref>{{Cite web|url=https://www.indheal.com/hospitals/fortis-escorts|title=Fortis Escorts}}</ref> [[Delhi]] became a major operating unit of the chain. Dr. Tehran, the current MD of [[Medanta]] and several others have started their careers at this institute.
'''Fortis Healthcare Limited''' is a chain of specialist hospitals in India. It has its hospitals in [[Delhi]], [[Amritsar]], [[Kolkata]], [[Navi Mumbai]], [[Mohali]], [[Ludhiana]], [[Jaipur]], [[Chennai]], [[Kota, Rajasthan|Kota]], [[Bengaluru]], [[Gurgaon]], [[Noida]], [[Faridabad]], [[Mumbai]], and [[Bhubaneswar|Odisha]].<ref>[http://www.fortishealthcare.com/content/29_29_72_/Network-Hospitals.html Network of hospitals]; Fortis Healthcare</ref>


The Fortis Memorial Research Institute (FMRI) hospital at [[Gurgaon]]<ref>{{Cite web|url=https://docprime.com/fortis-memorial-research-institute-gurgaon-sector-44-hpp|title=Fortis Hospital Gurgaon has 1000 beds|website=docprime|access-date=2019-11-14}}</ref> is the headquarter and flagship hospital of Fortis Healthcare, with all the major facilities at the hospital. It was named as 23rd smart hospital in the world for the year 2021.<ref>{{Cite web |title=Fortis Memorial Research Institute bags recognition as smart hospital |url=https://www.biospectrumindia.com/news/16/18848/fortis-memorial-research-institute-bags-recognition-as-smart-hospital.html |access-date=2022-03-16 |website=www.biospectrumindia.com |language=en}}</ref> FMRI was also named the 22nd-best hospital in the country for the year 2022 by Newsweek.<ref>{{Cite web |last=Newsweek |date=2022-03-02 |title=World's Best Hospitals 2022 - India |url=https://www.newsweek.com/worlds-best-hospitals-2022/india |access-date=2022-03-16 |website=Newsweek |language=en}}</ref>
Fortis Healthcare is internationally recognised by the [[Joint Commission International|JCI]] (Joint Commission International, U.S.A) and [[NABH]] (National Accreditation Board for Hospitals & Healthcare Providers, India) for its quality of healthcare.


Apart from Fortis Escorts Okhla & FMRI, Fortis Healthcare has other units in [[Delhi|Dehli]] [[National Capital Region (India)|NCR]] as well, which include Fortis Hospital [[Faridabad]], [[Noida]], [[Vasant Kunj]], [[Shalimar Bagh (Delhi)]] and at several other places in the country. Currently, the company operates its healthcare delivery services in India, [[Dubai]] and [[Sri Lanka]] with 36 healthcare facilities.<ref>{{Cite web|url=https://www.fortishealthcare.com/about-us|title=Fortis Healthcare – About Us}}</ref><ref>{{Cite web|url=https://www.zaubacorp.com/company/FORTIS-HEALTHCARE-LIMITED/L85110PB1996PLC045933|title=FORTIS HEALTHCARE LIMITED - Company, directors and contact details &#124; Zauba Corp}}</ref>
On 12 March 2010, Fortis Healthcare bought a 23.9% stake in Singapore's [[Parkway Holdings]] Ltd. Fortis sold its stake to Malaysia's [[Khazanah Nasional]] on 27 July 2010.<ref>{{cite news| url=https://www.wsj.com/articles/SB10001424052748703700904575390491799022242 | title=An Uncommon Deal Battle Ends | date=27 July 2010|newspaper=[[The Wall Street Journal]]}}</ref> On the 29 May 2012, Fortis Healthcare reported an increase of 41.34% in the consolidated net profit for the fourth quarter.<ref>{{cite news| url=http://timesofindia.indiatimes.com/business/india-business/Fortis-Healthcare-Q4-net-up-41-at-Rs-41-54-cr/articleshow/13633845.cms | title=Fortis Healthcare Q4 net up 41% at Rs41.54 cr | date=29 May 2012|newspaper=[[Times of India]]}}</ref>


[[Malaysia|Malaysia's]] [[IHH Healthcare]] became the controlling shareholder of Fortis Healthcare Ltd by acquiring a 31.1% stake in the company. Fortis Healthcare also appointed four persons from IHH Healthcare to its board in a meeting held in Mohali. The board approved the allotment of over 230 million shares through preferential issue to Northern TK Venture Pte Ltd, a wholly owned indirect subsidiary of IHH Healthcare, at ₹170 per share of ₹10 face value.<ref>{{cite news| url=https://www.livemint.com/Companies/n5hz8EnQh6C9rcD5JvVZYM/IHH-acquires-controlling-311-stake-in-Fortis-for-Rs-4000.html | title=IHH Healthcare completes Fortis deal by acquiring 31% stake | date=14 Nov 2018|newspaper=[[Live Mint]]}}</ref><ref>{{cite news|title=Fortis Hospital Noida |url=https://www.credihealth.com/hospital/fortis-hospital-noida/doctors|date=26 March 2019 |work=Full Details Information}}</ref>
Bain and TPG are currently the only minority 26% stakeholders in the company.


== Other information ==
The Supreme Court has refused to allow banks to sell Fortis HealthcareBSE 0.20 % Ltd shares pledged to them until arguments on Daiichi Sankyo’s petition to block the sale of the shares in the hospital group are heard. The decision is expected to delay the banks from recovering their incestments from Fortis promoters Malvinder and Shivinder Singh.
In 2018, Manipal Hospitals and [[TPG Capital]] acquired Fortis Healthcare Limited as part of a deal for {{INR}} 39,000 million.<ref>{{cite news |title=Fortis Healthcare Ltd. |url=https://www.business-standard.com/company/fortis-health-24049/information/company-history |newspaper=Business Standard India}}</ref><ref>{{cite web |last1=Sen |first1=Amiti |title=Manipal Hospitals buys Fortis hospitals biz |url=https://www.thehindubusinessline.com/companies/manipal-hospitals-buys-fortis-hospitals-biz/article23370334.ece |website=@businessline |date=28 March 2018 |language=en}}</ref><ref>{{cite news |title=TPG-backed Manipal acquires Fortis Health, SRL Diagnostics – Times of India ► |url=https://timesofindia.indiatimes.com/business/india-business/tpg-backed-manipal-acquires-fortis-health-srl-diagnostics/articleshow/63495248.cms |website=The Times of India|date=28 March 2018 }}</ref> In 2019, Fortis Healthcare announced that it had completed the acquisition of RHT Health Trust (RHT) assets for an enterprise value of {{INR}} 46,500 million.<ref>{{cite news|url=https://business.medicaldialogues.in/fortis-completes-acquisition-of-rht-assets-at-enterprise-value-of-rs-4650-crore/|title= Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore|date=17 January 2019|work=Medical Dialogues}}</ref><ref>{{cite news|url=https://www.credihealth.com/hospital/fortis-memorial-research-institute-gurgaon/overview|title= Fortis Hospital Gurgaon|date=25 March 2019|work= Full Details Information}}</ref> In the same financial year, Fortis reported a consolidated net profit of {{INR}} 780.10 million for the quarter ended 30 June.<ref>{{cite news|url=https://business.medicaldialogues.in/fortis-healthcare-reports-profit-of-rs-78-crore-for-june-quarter/|title= Fortis Healthcare reports profit of Rs 78 crore for June quarter|date=7 August 2019|work=Medical Dialogues}}</ref>


In August 2023, it was announced Fortis had completed its acquisition of [[Medeor Hospital]] in [[Manesar]], India from [[VPS Healthcare]] for $27.23 million.<ref>{{Cite web |last=nagamanigrandhi |date=2023-08-30 |title=Fortis Healthcare acquires Medeor Hospital in India for $27.23m |url=https://www.hospitalmanagement.net/news/fortis-healthcare-medeor-hospital/ |access-date=2023-08-30 |website=Hospital Management |language=en-US}}</ref>
==Expansion and network==
Fortis Healthcare will introduce two new medical facilities in the city of [[Bangalore]] with a total capacity of 280 beds. It plans to double its size to 10,000-bed capacity in the coming five years.<ref>{{cite news| url=http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/healthcare/fortis-healthcare-to-introduce-two-new-medical-facilities-in-bangalore/articleshow/32632693.cms | title=Fortis Healthcare to introduce two new medical facilities in Bangalore | date=25 March 2014|newspaper=[[The Economic Times]]}}</ref>


Fortis is also a component of the S&P BSE 500.<ref>{{Cite web |title=FORTIS HEALTHCARE Intrinsic Value & Fundamental Analysis-16 Dec,2024 |url=https://www.smart-investing.in/main.php?Company=FORTIS+HEALTHCARE+LTD |access-date=2024-12-16 |website=www.smart-investing.in |language=en}}</ref>
Hospitals under the Fortis Healthcare Limited group include [[Fortis Memorial Research Institute]].


== Collaborations ==
⚫
==References==

http://www.bbc.co.uk/news/world-asia-india-42062222
* Phable partners with Fortis Hospital to provide AI driven care to patients, Mar 19.<ref>{{Cite web |title=Phable partners with Fortis Hospital to provide AI driven care to patients |url=https://www.biospectrumindia.com/news/20/13187/phable-partners-with-fortis-hospital-to-provide-ai-driven-care-to-patients.html |access-date=2024-05-09 |website=www.biospectrumindia.com |language=en}}</ref>
{{reflist}}
* [[Common Service Centres|CSC]] partners with Fortis Hospital to launch telemedicine service for rural India, Feb 21.<ref>{{Cite web |last=Athrady,DHNS |first=Ajith |title=CSC partners with Fortis Hospital to launch telemedicine service for rural India |url=https://www.deccanherald.com/business/csc-partners-with-fortis-hospital-to-launch-telemedicine-service-for-rural-india-948612.html |access-date=2024-05-09 |website=Deccan Herald |language=en}}</ref>
* Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes, June 23.<ref>{{Cite web |date=2023-06-26 |title=Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes |url=https://www.financialexpress.com/healthcare/news-healthcare/fortis-healthcare-partners-with-red-health-to-provide-ambulances-in-10-30-minutes/3143261/ |access-date=2024-05-09 |website=Financialexpress |language=en}}</ref>
* Fortis Bannerghatta Road joins hands with JOGO Health, to provide non-surgical, tech-driven treatment for urinary disorders, Dec 23.<ref>{{Cite web |title=Fortis Bannerghatta Road joins hands with JOGO Health; to provide non-surgical, tech-driven treatment for urinary disorders - The Pharma Times {{!}} Pharma & Health Care News Portal |url=https://thepharmatimes.in/fortis-bannerghatta-road-joins-hands-with-jogo-health-to-provide-non-surgical-tech-driven-treatment-for-urinary-disorders/#:~:text=Bengaluru,%20December%2023,%202023:,a%20range%20of%20urinary%20disorders. |access-date=2024-05-09 |website=thepharmatimes.in}}</ref>

==See also==
* [[Healthcare in India]]
* [[Manipal Hospitals India]]
* [[Medanta]]

⚫
== References ==
{{Reflist}}


== External links ==
== External links ==
* {{Official website|http://www.fortishealthcare.com/}}
* {{Official website|http://www.fortishealthcare.com/}}

{{Nifty 200 companies}}
{{Authority control}}


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{{coord missing|Delhi}}


[[Category:Hospitals in Haryana]]
[[Category:Hospitals in Haryana]]
[[Category:Hospitals in Kolkata]]
[[Category:Hospital networks in India]]
[[Category:Hospital networks in India]]
[[Category:2018 mergers and acquisitions]]
[[Category:Hospitals in Chennai]]
[[Category:1996 establishments in Tamil Nadu]]
[[Category:Indian companies established in 1996]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]




{{India-hospital-stub}}
{{India-company-stub}}
{{India-company-stub}}

Latest revision as of 07:42, 16 December 2024

Fortis Healthcare Limited
Company typePublic
BSE: 532843
NSE: FORTIS
IndustryHealthcare
Founded1996; 28 years ago (1996)
Headquarters
Gurgaon
,
India
Area served
Worldwide
Key people
Ravi Rajagopal (Chairman)[1]
ProductsHospitals, Pharmacy, Diagnostic centres
Revenue₹6,359 crore (US$760 million) (2023)[2]
₹920 crore (US$110 million) (2023)[2]
₹611 crore (US$73 million) (2023)[2]
Number of employees
23,000 (2023)[2]
ParentIHH Healthcare (31.1%)
Websitewww.fortishealthcare.com

Fortis Healthcare Limited (FHL)[3] is an Indian for-profit private hospital network headquartered in Gurgaon, India. Fortis started its health care operations in Mohali, Punjab, where the first Fortis hospital was started. Later on, the hospital chain purchased the healthcare branch of Escorts group and increased its strength in various parts of the country. The Escorts Heart and Research Center, Okhla,[4] Delhi became a major operating unit of the chain. Dr. Tehran, the current MD of Medanta and several others have started their careers at this institute.

The Fortis Memorial Research Institute (FMRI) hospital at Gurgaon[5] is the headquarter and flagship hospital of Fortis Healthcare, with all the major facilities at the hospital. It was named as 23rd smart hospital in the world for the year 2021.[6] FMRI was also named the 22nd-best hospital in the country for the year 2022 by Newsweek.[7]

Apart from Fortis Escorts Okhla & FMRI, Fortis Healthcare has other units in Dehli NCR as well, which include Fortis Hospital Faridabad, Noida, Vasant Kunj, Shalimar Bagh (Delhi) and at several other places in the country. Currently, the company operates its healthcare delivery services in India, Dubai and Sri Lanka with 36 healthcare facilities.[8][9]

Malaysia's IHH Healthcare became the controlling shareholder of Fortis Healthcare Ltd by acquiring a 31.1% stake in the company. Fortis Healthcare also appointed four persons from IHH Healthcare to its board in a meeting held in Mohali. The board approved the allotment of over 230 million shares through preferential issue to Northern TK Venture Pte Ltd, a wholly owned indirect subsidiary of IHH Healthcare, at ₹170 per share of ₹10 face value.[10][11]

Other information

In 2018, Manipal Hospitals and TPG Capital acquired Fortis Healthcare Limited as part of a deal for ₹ 39,000 million.[12][13][14] In 2019, Fortis Healthcare announced that it had completed the acquisition of RHT Health Trust (RHT) assets for an enterprise value of ₹ 46,500 million.[15][16] In the same financial year, Fortis reported a consolidated net profit of ₹ 780.10 million for the quarter ended 30 June.[17]

In August 2023, it was announced Fortis had completed its acquisition of Medeor Hospital in Manesar, India from VPS Healthcare for $27.23 million.[18]

Fortis is also a component of the S&P BSE 500.[19]

Collaborations

  • Phable partners with Fortis Hospital to provide AI driven care to patients, Mar 19.[20]
  • CSC partners with Fortis Hospital to launch telemedicine service for rural India, Feb 21.[21]
  • Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes, June 23.[22]
  • Fortis Bannerghatta Road joins hands with JOGO Health, to provide non-surgical, tech-driven treatment for urinary disorders, Dec 23.[23]

See also

References

  1. ^ "Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO". The Economic Times. economictimes.indiatimes.com. Retrieved 7 February 2019.
  2. ^ a b c d "Fortis Healthcare Ltd. Financial Statements". moneycontrol.com.
  3. ^ "Fortis Healthcare gets CCI nod to acquire additional stake in Agilus Diagnostics for Rs 1,780 cr". The Economic Times. 29 October 2024. ISSN 0013-0389. Retrieved 16 December 2024.
  4. ^ "Fortis Escorts".
  5. ^ "Fortis Hospital Gurgaon has 1000 beds". docprime. Retrieved 14 November 2019.
  6. ^ "Fortis Memorial Research Institute bags recognition as smart hospital". www.biospectrumindia.com. Retrieved 16 March 2022.
  7. ^ Newsweek (2 March 2022). "World's Best Hospitals 2022 - India". Newsweek. Retrieved 16 March 2022.
  8. ^ "Fortis Healthcare – About Us".
  9. ^ "FORTIS HEALTHCARE LIMITED - Company, directors and contact details | Zauba Corp".
  10. ^ "IHH Healthcare completes Fortis deal by acquiring 31% stake". Live Mint. 14 November 2018.
  11. ^ "Fortis Hospital Noida". Full Details Information. 26 March 2019.
  12. ^ "Fortis Healthcare Ltd". Business Standard India.
  13. ^ Sen, Amiti (28 March 2018). "Manipal Hospitals buys Fortis hospitals biz". @businessline.
  14. ^ "TPG-backed Manipal acquires Fortis Health, SRL Diagnostics – Times of India ►". The Times of India. 28 March 2018.
  15. ^ "Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore". Medical Dialogues. 17 January 2019.
  16. ^ "Fortis Hospital Gurgaon". Full Details Information. 25 March 2019.
  17. ^ "Fortis Healthcare reports profit of Rs 78 crore for June quarter". Medical Dialogues. 7 August 2019.
  18. ^ nagamanigrandhi (30 August 2023). "Fortis Healthcare acquires Medeor Hospital in India for $27.23m". Hospital Management. Retrieved 30 August 2023.
  19. ^ "FORTIS HEALTHCARE Intrinsic Value & Fundamental Analysis-16 Dec,2024". www.smart-investing.in. Retrieved 16 December 2024.
  20. ^ "Phable partners with Fortis Hospital to provide AI driven care to patients". www.biospectrumindia.com. Retrieved 9 May 2024.
  21. ^ Athrady,DHNS, Ajith. "CSC partners with Fortis Hospital to launch telemedicine service for rural India". Deccan Herald. Retrieved 9 May 2024.
  22. ^ "Fortis Healthcare partners with RED.Health to provide ambulances in 10-30 minutes". Financialexpress. 26 June 2023. Retrieved 9 May 2024.
  23. ^ "Fortis Bannerghatta Road joins hands with JOGO Health; to provide non-surgical, tech-driven treatment for urinary disorders - The Pharma Times | Pharma & Health Care News Portal". thepharmatimes.in. Retrieved 9 May 2024.


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