Fortis Healthcare acquires Medeor Hospital Manesar for Rs 225 Cr

Fortis Healthcare sells Chennai Hospital to Kauvery Medical for Rs 152 Cr

Key Points of Fortis Healthcare Acquisition of Medeor Hospital:

  • Fortis Healthcare has acquired Medeor Hospital Manesar from Medeor Hospital Limited and VPS Health Care Private Limited for Rs 225 crore.
  • The acquisition is expected to be completed by July 31, 2023.
  • Fortis Healthcare has signed a definitive agreement with Medeor Hospital Limited and VPS Health Care Private Limited to acquire the multi-speciality hospital.
  • The promoter of Medeor Hospital Limited is VPS Health Care Private Limited.
  • Fortis Healthcare aims to expand its presence in focus geographic clusters, including Delhi NCR, and provide quality healthcare services to patients in upcoming areas like New Gurgaon, Dwarka Expressway, IMT Manesar, and National Highway 48.
  • Medeor Hospital Manesar has a potential bed capacity of 350 beds and can be operationalized in a phased manner in approximately 9 months. Currently, Fortis Healthcare’s shares are trading at Rs 267.65 per share on BSE, which is 0.13 percent higher.

Details of Fortis Healthcare Acquisition of Medeor Hospital:

Fortis Healthcare has recently announced its acquisition of Medeor Hospital Manesar from Medeor Hospital Limited (MHL) and VPS Health Care Private Limited for a sum of Rs 225 crore. This transaction is expected to be finalized by July 31, 2023. Fortis Healthcare has signed a definitive agreement with Medeor Hospital Limited and VPS Health Care Private Limited for the acquisition of the multi-speciality hospital. Medeor Hospital Limited’s promoter is VPS Health Care Private Limited.

Fortis Healthcare sees the acquisition as an excellent opportunity to expand its presence in focus geographic clusters, such as Delhi NCR, and to provide quality healthcare services to patients in the upcoming areas of New Gurgaon, Dwarka Expressway, IMT Manesar, and National Highway 48.

Medeor Hospital Manesar has a potential bed capacity of about 350 beds and can be operationalized in a phased manner in around 9 months. Shares of Fortis Healthcare are currently trading 0.13 percent higher at Rs 267.65 per share on BSE.

About Fortis Healthcare:

Fortis Healthcare Ltd is a renowned Indian multinational private hospital chain with its headquarters in India. The healthcare company initiated its operations in Mohali, Punjab, where the first Fortis hospital was established.

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