Corporate Update
Fortis plans US$ 498.48 million investment and 40 hospitals by 2011
Fortis plans US$ 498.48 million investment and 40 hospitals by 2011
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By eHealth Network - 10 October 2007
The Delhi-based Rs512 crore company had already established a toehold in the western and southern parts of the country. Fortis Healthcare Ltd, an INR 512 cr company plans to invest US$500 million (Rs1,970 crore) to achieve its target of 40 hospitals by 2010-11, focusing on improving its presence in the West and South to get a pan-India presence. They will fund half of money from internal resources, including proceeds from an initial public offering of shares, as well as debt. But they haven’t ruled out a second public offer or infusion of additional funds through private equity. The Delhi-based company had already established a toehold in the West and South
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