Fortis Healthcare Acquires Bengaluru’s People Tree Hospital for ₹4.3 Billion
Fortis Healthcare Ltd announced on Saturday that it will acquire People Tree Hospital in Yeshwantpur, Bengaluru, for ₹4.3 billion, marking a strategic move to strengthen its presence in South India’s healthcare market. The acquisition will be carried out through Fortis’ wholly owned subsidiary, International Hospital, by purchasing a 100% stake in TMI Healthcare, the entity that operates People Tree Hospital.
In addition to the acquisition, Fortis said it plans to invest approximately ₹4.1 billion over the next three years to further develop the Bengaluru facility. The company stated that the transaction is expected to enhance its operational strength, boost revenues and profitability, and support its long-term growth plans in the region.
Fortis Healthcare, which is partly owned by Malaysia-based IHH Healthcare Bhd, currently operates 33 healthcare facilities with over 5,700 beds across 11 Indian states. Earlier, CEO Ashutosh Raghuvanshi told Reuters that the company intends to invest ₹7 billion over the next four years to expand hospital capacity in key markets including Bengaluru, Mumbai, the National Capital Region, and Punjab.
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