Fortis’ Rs800 cr medical city plan in Gurgaon

Fortis’ Rs800 cr medical city plan in Gurgaon
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First Published: Tue, Aug 28 2007. 12 08 AM IST
Updated: Tue, Aug 28 2007. 12 08 AM IST
New Delhi: Fortis Healthcare Ltd, a local hospital chain, unveiled a Rs800 crore investment plan to set up a 950-bed medical city in Gurgaon, funded by debt and equity in equal parts.
To be called Fortis International Institute of Medical Sciences (FIIMS), the latest Fortis facility will be the third comprehensive medical complex to come up in Gurgaon after Artemis Health Sciences Pvt. Ltd and noted surgeon Naresh Trehan’s Medicity.
The first phase of the Fortis venture, to be operational in 2009, will require an investment of Rs300 crore to set up 350 beds and initially provide treatment in areas such as oncology, trauma, paediatrics, mother and child, and cosmetology.
“FIIMS is going to be our flagship hospital and will contribute significantly in setting new health care standards,” said Shivinder M. Singh, Fortis’ managing director. The company’s shares rose 5.73% on the Bombay Stock Exchange to close at Rs85.85 on Monday.
Gurgaon will also be the location for a Fortis medical college and a small hospital to treat the poor, added Singh. Fortis, like all other corporate hospitals, is betting on the rising purchasing power and health insurance penetration.
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First Published: Tue, Aug 28 2007. 12 08 AM IST