Fortis, Apollo put expansion on fast track

Fortis Healthcare and Apollo Hospitals Enterprise are buying existing their presence in the world’s second most populous nation, where at least 70 percent citizens do not have access to medicine. According to some official sources, Fortis may sign at least four strategic deals including signing management contract with one hospital and acquisition of some hospitals plots.

Apollo is planning to invest around INR 1600 crore over the next two years for building new hospitals. Fortis has already acquired a 56 percent stake in a 100 bed hospital in Bangalore for INR 7 crore and plans to invest an additional INR 4 crore to increase its stake to 76 percent by the year end. This is Fortis’s second project in South India after an investment in Malar Hospitals in Chennai. Fortis has also marked its international presence by gaining management control in Clinique Darne,a 120-bed hospital in Mauritius. Fortis has also signed a deal with Mauritian industrial group CIEL to jointly acquire 58 percent stake in the hospitals. Fortis is expecting to expand the bed strength Clinique Darne by utilising six acres of land adjacent to the hospital. It is known that the project has the potential to be developed into a 400-bed hospitals in coming years. Apollo has plan to add 2000 beds over the next two years at an investment of INR 1500-1600 crore. Similarly the group is planning to invest around INR 200 crore through Western Hospital Corporation.

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