Fortis Healthcare to set up 7-star medicity in Gurgaon

Fortis Healthcare to set up 7-star medicity in Gurgaon
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First Published: Mon, Aug 27 2007. 01 29 PM IST
Updated: Mon, Aug 27 2007. 01 29 PM IST
By Agencies
New Delhi: Ranbaxy promoter group company Fortis Healthcare said on 27 August it will invest Rs800 crore to set up a seven-star medicity in Gurgoan.
The company will start construction on the 950-bed medicity on 28 August. It will be spread over 10.7 acres of land. In the first phase, which is expected to be completed in the next two to three years, the medicity would have 350 beds.
“Fortis International Institute of Medical Sciences is going to be our flagship hospital and it will contribute significantly in setting new standards of healthcare delivery in the country,” Fortis CEO and managing director Shivinder Mohan Singh said.
Better access to medical insurance has fuelled demand for high-quality health care in the country. The number of hospital beds in the country is expected to double to 4 million by 2015 and corporate hospitals will play an important part in transforming the quality of health care, according to a report by McKinsey. Health insurance penetration may also double to cover 220 million people during the time period according to the report.
Fortis, which runs 12 hospitals in northern India, raised Rs500 crore in April through an initial share sale. The company in June said it will partner real-estate developer DLF Ltd to invest Rs6,200 crore in a chain of hospitals across the country.
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First Published: Mon, Aug 27 2007. 01 29 PM IST