Ajay Kumar at 12:50, 31 August 2023

2023-08-31T12:50:02Z

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

{{Infobox company
| name = Fortis Healthcare Limited
| logo = Fortis_Healthcare_logo.svg
| type = [[Public company|Public]]
| traded_as = {{BSE|532843}}<br />{{NSE|FORTIS}}
| genre =
| fate =
| successor =
| foundation = {{start date and age|df=yes|1996}}
| defunct =
| location_city = [[Gurgaon]]
| locations =
| 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>
| industry = [[Healthcare]]
| products = [[Hospitals]], [[Pharmacy]], [[Medical diagnosis|Diagnostic centre]]s
| services =
| revenue = {{INRConvert|193585|c}} (2020)<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 = {{INRConvert|4325|c}} (2020)<ref name="Financials"/>
| net_income = {{INRConvert|7889|c}} (2020)<ref name="Financials"/>
| assets =
| equity =
| num_employees = 23,000 (2020)<ref name="Financials"/>
| parent = [[IHH Healthcare]] (31.1%)
| divisions =
| subsid =
| footnotes =
| intl =
| location_country = [[India]]
| homepage = {{url|http://www.fortishealthcare.com}}
}}

'''Fortis Healthcare Limited''' ('''FHL''') is an [[India|Indian multinational]] chain of private hospitals headquartered in [[India]]. Fortis started its health care operations from [[Mohali]] where first Fortis hospital was started. Later on, the hospital chain purchased the healthcare branch of [[Escorts Group|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|url-status=live}}</ref> [[Delhi]] became a major operating unit of the chain. Dr. Tehran, the current MD of [[Medanta]] and several others have started their career from this institute.

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|url-status=live|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 as 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>

Apart from Fortis Escorts Okhla, & FMRI, Fortis healthcare has other units in Delhi NCR as well which includes 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|url-status=live}}</ref><ref>{{Cite web|url=https://www.zaubacorp.com/company/FORTIS-HEALTHCARE-LIMITED/L85110PB1996PLC045933|title=FORTIS HEALTHCARE LIMITED - Company, directors and contact details | Zauba Corp}}</ref>

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 at 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>

== Other information ==
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 |language=en}}</ref><ref>{{cite web |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}}</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>

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

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

== References ==
{{Reflist}}

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

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

{{coord missing|Delhi}}

[[Category:Hospitals in Haryana]]
[[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-company-stub}}

Fortis Healthcare - Revision history

Ajay Kumar at 12:50, 31 August 2023