Fortis Healthcare Expands with Strategic Acquisition in Punjab
Fortis Healthcare will acquire Shrimann Superspecialty Hospital in Jalandhar for Rs 462 crore through its subsidiary, Fortis Hospotel. The acquisition aligns with Fortis' strategic expansion in Punjab, aiming to enhance its network and provide exceptional medical care, subject to shareholder approval by March 2025.
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Fortis Healthcare is set to expand its presence in Punjab with the acquisition of Shrimann Superspecialty Hospital in Jalandhar, announced on Friday. The deal, valued at Rs 462 crore, will be executed through Fortis' subsidiary, Fortis Hospotel.
The acquisition will encompass the hospital's business operations, building, and land, with plans for future expansion. This move underscores Fortis' cluster-focused growth strategy, aiming to enhance its network in Punjab.
With an all-cash deal pending shareholder approval, the transaction is expected to conclude by March 2025, boosting Fortis' capacity to over 1,000 beds and strengthening its market presence in the region, according to Fortis CEO Dr. Ashutosh Raghuvanshi.
(With inputs from agencies.)
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