Fortis plans 40 hospitals across India by 2010
It is planning to invest Rs 1,800 cr for a pan-India expansion, including setting up a medicity in Gurgaon and 28 hospitals by 2010.business Updated: Aug 27, 2007 16:39 IST
Ranbaxy promoter group company Fortis Healthcare on Monday said it is planning to invest Rs 1,800 crore for a pan-India expansion, including setting up a medicity in Gurgaon and 28 hospitals by 2010.
"In the next three years, our plan is to become a national player from a North India-centric player. As part of this we intend to have 40 hospitals under the Fortis group across 14 states by 2010," Fortis managing director and chief executive officer Shivinder Mohan Singh told reporters here.
He, however, said the total outlay for the planned expansion, which could include greenfield facilities, management contracts and acquisitions, could be to the tune of half a billion dollars. Of this, the company's contribution would be around Rs 1,000 crore, he said.
"Presently, the company operates 12 hospitals, of which four were acquired, four under management contract and another similar number are own developed facilities. Going forward, we intend to maintain this ratio," Singh said.
The company plans to tap western and southern parts of India by the end of this year. Post-expansion, the company is targeting to have 7,000 beds, treat 17.5 lakh patients and perform two lakh operations and surgeries annually.
Fortis also announced a multi-speciality medicity project in Gurgaon at an investment of Rs 800 crore. It will have a bed capacity of 950 and will be built in a phased manner.
"In the first phase, to be completed in two to three years, the company would invest Rs 300 crore to create a 350 bed facility. The commencement of the second phase will depend on market demand," Singh said.