Fortis to expand in South

Healthcare services provider Fortis Healthcare Ltd is in the process of expanding its operations in South India by adding more beds to its Bangalore facility, and starting a new hospital in Chennai.

Aditya Vij, chief executive officer of Fortis Healthcare Ltd, recently said the company was considering to double its capacity at its Bangalore facility to around 500 beds by next year. This would entail an investment of around Rs 150 crore, with most of it coming through the Business Trust, he said.

Meanwhile, its 190-bed new facility is expected to commence operations in Chennai shortly.

With an increased focus on the Indian market and a stronger balance sheet, the company would explore opportunities for developing potentially attractive green field projects. In the medium term, it is expected to invest around Rs 300 crore per annum under the capital expenditure.

It may be noted the company in the recent past had shifted its focus towards development of domestic capacities by stopping operations in overseas markets. For instance, during the third quarter of financial year 2013, 47 per cent of the company's business was in India, while 28 per cent came from Australia and New Zealand, 16 per cent from Hong Kong, four per cent from Vietnam and two per cent from Singapore.

However, in the third quarter of the current financial year, 94 per cent of the business came from India, while Singapore contributed five per cent and Dubai 0.7 per cent business.

In its speciality revenue split for the Indian hospital business, the cardiac sciences had a share of 30 per cent, compared with 33 per cent during the same period of the previous fiscal year.