Fortis Healthcare turns focus on cost control and consolidation

With a new MD and CEO taking charge, beleaguered hospital chain Fortis Healthcare has turned its focus on cost control and consolidation, rather than expansion. Ashutosh Raghuvanshi, who was appointed at the helm a few months back, has drawn up a task to achieve mid-teen Ebitda margins. He is consolidating the operations through cost-control measures, starting work on pre-approved projects to augment capacities, and working towards improving occupancies.
 
This is a departure from Fortis' earlier plans that entailed, for example, retail expansion of its diagnostics arm SRL, especially in the southern markets.
 
The primary goal is to achieve