The announcement was made at the fag end of the trading session on Tuesday, 4 December 2012. Shares of Fortis Healthcare rose 0.27% to Rs 112.55 on Tuesday.
Meanwhile, the BSE Sensex was up 90.16 points, or 0.47% to 19,438.28.
On BSE, 12,000 shares were traded in the counter as against an average daily volume of 72,411 shares in the past one quarter.
The stock hit a high of Rs 113.65 and a low of Rs 112.55 so far during the day. The stock had hit a 52-week high of Rs 117.60 on 17 February 2012. The stock had hit a 52-week low of Rs 81 on 28 December 2011.
The stock had outperformed the market over the past one month till 4 December 2012, rising 8.95% compared with the Sensex's 3.16% rise. The scrip had also outperformed the market in past one quarter, gaining 20.31% as against Sensex's 10.94% rise.
The mid-cap company has an equity capital of Rs 405.20 crore. Face value per share is Rs 10.
Fortis Healthcare (Fortis) has entered into a strategic tie-up with Majid Al Futtaim Healthcare, the healthcare arm of Majid Al Futtaim Ventures, to operate and manage its health care assets, starting with a day care specialty clinic located in Deira City Centre, one of Dubai's largest shopping malls located in the heart of the city.
Majid Al Futtaim Healthcare is a new business vertical recently established by Majid Al Futtaim Ventures - the growth engine responsible for developing new and innovative enterprises across the region, to invest in healthcare assets. This agreement is the first towards a long-term association that Fortis and Majid Al Futtaim Healthcare have committed to, in bringing advanced healthcare to this region. With the Day Care Specialty Clinic expected to open in the first half of 2013, the broader strategy is to expand the business regionally. The focus of the clinics will be towards preventive and curative care with Fortis bringing its more than two decades of expertise in specialty care from within its network to the region.
The first Majid Al Futtaim Healthcare Clinic in Deira City Centre will house consultation chambers, an endoscopy room, a minor OT, day care beds along with radiology & pathology facilities. The clinic will provide medical care to a wide spectrum of population in Deira & the adjoining areas of Bur Dubai, Karama, Oud Metha, Al Qusais and Al Sharjah. The clinic will have full-time consultants in Internal Medicine, Gynecology, Pediatrics, General Surgery, Endocrinology, Cardiology, Neurology, Dermatology & Cosmetics, Gastroenterology, Orthopedics, ENT, Ophthalmology and Dental, among other specialties.
Fortis Healthcare recently said that its board approved setting up a new committee to explore various methods of raising funds.
Fortis Healthcare reported a consolidated net loss of Rs 28.43 crore in Q2 September 2012, higher than net loss of Rs 12.59 crore in Q2 September 2011. Net sales rose 146.5% to Rs 1476.74 crore in Q2 September 2012 over Q2 September 2011.
Fortis Healthcare is a pan Asia-Pacific, integrated healthcare delivery provider. The healthcare verticals of the company span diagnostics, primary care, day care specialty and hospitals, with an asset base in 11 countries, many of which represent the fastest-growing healthcare delivery markets in the world. Currently, the company operates its healthcare delivery network in Australia, Canada, Dubai, Hong Kong, India, Mauritius, Nepal, New Zealand, Singapore, Sri Lanka, and Vietnam with 76 hospitals, over 12,000 beds, over 600 primary care centres, 194 day care specialty centres, over 240 diagnostic centres.
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