Fortis Healthcare plans to invest around Rs 650 crore in next 18 months to open 7-8 hospitals and is scouting for acquisition opportunities in India and abroad to bridge the gap with the country’s largest healthcare firm Apollo Hospitals.
The Company indicated that the group’s overseas acquisitions will be championed by their privately held firm, putting a question mark over Fortis’ global expansion. Fortis Healthcare had lost out a corporate takeover battle for control of Singapore’s Parkway early this year.
The company has not yet done with the acquisitions and at any point of time, the company is evaluating about 6-7 proposals,
After the company posted a consolidated net profit of Rs 74.8 crore for the second quarter ended September 30, boosted by a one-time net profit of Rs 53.9 crore from divestment of its stake in Singapore’s Parkway Hospitals. Excluding this one-time gain, the net profit rose 61% over the year-ago period.
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