Fortis eyeing pan-India presence, to invest Rs 2,000 cr

Fortis eyeing pan-India presence, to invest Rs 2,000 cr
PTI
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First Published: Sun, Aug 26 2007. 04 50 PM IST
Updated: Sun, Aug 26 2007. 04 50 PM IST
Mohali, 26 August: Fortis Healthcare Ltd, a Ranbaxy promoter group company, today said it plans to have a pan-India presence and is ready to invest about $500 million (nearly Rs 2,000 crore) in the next four-five years.
Fortis, which has a network of 12 hospitals primarily in the north, is now focusing to build a “strong national network”, the company’s CEO and Managing Director Shivinder Mohan Singh told a news conference here.
The company, which last year invested Rs 1,000 crore to expand its network, also revealed its plans to set up two health cities in Punjab shortly and said it is in talks with the Punjab Government in this regard.
The health cities would be like “integrated townships” having a medical college, a dental college, health management institute, a teaching hospital and a regular hospital.
He said a new entity may be floated by the pharma giant for funding the two health city projects, each of which may cost between Rs 500-600 crore.
Singh said Fortis had recently opened hospitals in Jaipur and Srinagar, while Lucknow and Ahmedabad were in the pipeline. Besides, its diagnostic centre in Kuwait may be upgraded to a full-fledged hospital by 2009.
He said that the company also plans to increase pharma retail outlets across the country to 150 by August next year.
To a question, he said the occupancy of its hospitals was 72% as against an internal target of 85%.
Singh said Fortis Hospital, Mohali this month received accreditation from US-based Joint Commission International, “considered as the highest form of recognition in the health world, in recognition of the hospital’s empathetic patient care programme”.
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First Published: Sun, Aug 26 2007. 04 50 PM IST