indias-fortis-healthcare-buys-wockhardt-hospitals

India's Fortis Healthcare buys Wockhardt hospitals

Fortis Healthcare, the hospital business promoted by the Singh family which previously also owned Ranbaxy, spends $187 million to acquire 10 hospitals from Wockhardt.

India's Fortis Healthcare will buy 10 hospitals from Wockhardt Hospitals for Rs9.1 billion $187 million as it seeks to create a pan-India presence.

Two of the hospitals are currently under construction and the agreed price of Rs9.1 billion includes Rs1.9 billion of capital towards work-in-progress for these two hospitals. Fortis is adding a total of 1,902 beds to its existing bed capacity.

Fortis Healthcare currently has a network of 28 hospitals including 12 satellite and heart command centres with a capacity of around 3,300 beds. The deal is the largest in the hospital sector in India to date.

The acquisition will enhance Fortis's footprint across the country, making it a national player. Fortis is...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222