In the largest buyout deal in the healthcare sector, hospital chain Fortis today announced the acquisition of 10 hospitals from Wockhardt for Rs 909 crore.
The deal is expected to be completed by the end of this year, Fortis said in a statement.
With the acquisition, Fortis will have a capacity of 5,180 beds. Fortis already operates 28 hospitals across the country and had bought Escorts in 2005 for over Rs 585 crore.
"The coming together of three brands -- Fortis, Escorts and now Wockhardt -- will provide the needed impetus of taking healthcare delivery in our country to the next level," Fortis Healthcare Ltd Managing Director Shivinder Mohan Singh said.
Under the deal, Fortis will take over eight operating hospitals and two that are under construction from Wockhardt, adding 1,902 beds to the company's hospital capacity.
The 10 hospitals are spread across three metros -- two in Mumbai, five in Bangalore and three in Kolkata.
The acquisition will enhance Fortis' footprint in Southern, Western and Eastern India, the statement said.
s:NP
The deal is expected to be completed by the end of this year, Fortis said in a statement.
With the acquisition, Fortis will have a capacity of 5,180 beds. Fortis already operates 28 hospitals across the country and had bought Escorts in 2005 for over Rs 585 crore.
"The coming together of three brands -- Fortis, Escorts and now Wockhardt -- will provide the needed impetus of taking healthcare delivery in our country to the next level," Fortis Healthcare Ltd Managing Director Shivinder Mohan Singh said.
Under the deal, Fortis will take over eight operating hospitals and two that are under construction from Wockhardt, adding 1,902 beds to the company's hospital capacity.
The 10 hospitals are spread across three metros -- two in Mumbai, five in Bangalore and three in Kolkata.
The acquisition will enhance Fortis' footprint in Southern, Western and Eastern India, the statement said.
s:NP
1 comments:
Loved Reading your Blog.
Thanks for Sharing the Information
Thanks & Regards
Mack
Post a Comment