Fortis Expands South India Presence with People Tree Acquisition

Fortis Healthcare plans to bolster its position in South India's market with the acquisition of People Tree Hospital in Bengaluru for 4.3 billion rupees. The transaction will be carried out through Fortis's subsidiary, International Hospital, acquiring full ownership of TMI Healthcare, the entity operating People Tree Hospital.

Fortis Healthcare is set to strengthen its presence in the South Indian healthcare sector by acquiring People Tree Hospital in Bangalore for a sum of 4.3 billion rupees. This move underscores Fortis's strategy to expand its regional market influence.

The acquisition will be executed through Fortis's wholly-owned subsidiary, International Hospital, which will assume full ownership of TMI Healthcare, the operating entity for People Tree Hospital. The deal, worth approximately $48.01 million, is a strategic step for Fortis to enhance its service network in a key geographical area.

The announcement came on the heels of Fortis's ongoing efforts to consolidate its market position and improve healthcare accessibility and services in India. By taking over People Tree Hospital, Fortis aims to leverage its new assets to better serve the community and enhance operational efficiencies.

(With inputs from agencies.)