Fortis Healthcare is eyeing acquisitions and is in talks with more than two players in south and west India. The company is hoping to close the transactions in the current financial year, said Shivender Mohan Singh, CEO and managing director of Fortis Healthcare.
Fortis Healthcare reported a net profit of Rs 10.06 crore in the second quarter ended September 30, 2008. The company had reported a loss of Rs 15.23 crore in the corresponding period of the previous year. During the period, net income rose 28 per cent to Rs 155 crore from Rs 121 crore y-o-y.
In the first quarter (April-June) 2008, the company had reported a net profit of around Rs 94 lakh. Singh said the core margins for the latest quarter rose to 18 per cent from 8 per cent a year ago. “Since the operation has now stabilised, margins will remain same or improve in the coming quarters,” he said.
Fortis, which currently has 2,600 beds in 22 hospitals, will add 150 beds in Mumbai and another 400 through acquisitions by March, Singh said.
“Ideally, we are looking for a ticket size between 150 and 200 beds hospital.” Depending upon the deal structure, the firm would fund these transactions through internal accrual and debts, he added.