Fortis Healthcare Ltd, a company controlled and managed by the Singh family, the promoters of Ranbaxy Laboratories Ltd, has acquired Hiranandani Healthcare Pvt. Ltd for Rs25.6 crore in an effort to expand its presence, hitherto largely restricted to the north and the western parts of India.With this acquisition, Hiranandani Healthcare’s work-in-progress 152-bed facility in Navi Mumbai comes under the Fortis fold.
The health-care company now plans a facility in the south, which will give it a pan-India presence. Its foray into the southern market is likely to happen by the end of the year, said Singh, who added that the company is considering either acquiring a southern health- care firm or signing a management contract (where it gets to manage a hospital owned by someone else) with one. Fortis has also started work on a new hospital in New Delhi, which will cost it an estimated Rs200 crore.
Read more in The Live Mint article.
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