| The company is also planning to come out with an initial public offer (IPO). |
| "We will invest about Rs 1,100 crore to increase our bed capacity to 4155 from the current 570 beds in next five years," Harpal Singh, chairman and managing director of Fortis, said at a press conference here on Thursday. |
| The group aims to set up two hospitals in south Delhi with a total capacity of 250 beds. Two more hospitals "" a multi speciality facility and a referral centre with a total capacity of 750 beds along with a medical college "" are being planned in Gurgaon. |
| Nearly eight acres of land has been bought in Shalimar Bagh in west Delhi for a 500 bed facility. The company already has a 150-bed hospital in Noida, which the group plans to expand to 350 beds in the next three years. |
| At present, Fortis has a 200 bed hospital in Mohali and a 75 bed hospital in Amritsar. It is also into a management contract with Jessaram Hospital. |
| "The funding will initially be from the promoting partners - Malvinder Singh and Shivinder Singh. There will be a 1:1 debt equity ratio and some funds will be raised from internal accruals once we cross the break-even stage. |
| We could also go for an IPO but it is premature to talk of the timeframe," Singh said. |
| "We are also eyeing management deals with other hospitals," he added. |
| Besides being focussed on NCR, the group will continue to expand in Punjab and plans to set up facilities in Ludhiana, Bhatinda, Hissar, Dehradun and Agra. |
| "We want to follow a hub and spoke model by setting up bigger hospitals in major cities which will cater to the patients from other smaller Fortis facilities," Shivender Singh, joint managing director, Fortis Healthcare said. |
| The company also launched its new logo today. In Fortis Healthcare, nearly 80 per cent of the stake is held by the main promoters, while Ranbaxy has 13 per cent stake. The rest is held by other promoters and their associates. |
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