Fortis Healthcare

Fortis Healthcare Q2 profit up 5%, revenue rises 12% on strong hospital biz

The company's revenue from operations rose to Rs 1,988 crore in Q2 FY25, a 12.3 per cent Y-o-Y increase from Rs 1,770 crore reported in Q2 FY24

Fortis Healthcare gets CCI nod to acquire stake in Agilus Diagnostics

The competition watchdog CCI on Tuesday approved Fortis Healthcare's proposal to acquire an additional 31.52 per cent stake in Agilus Diagnostics. Multi-speciality hospital chain Fortis Healthcare Ltd (FHL) is engaged in providing integrated healthcare delivery services like medicare, healthcare and diagnostics. The diagnostics services business of FHL is being undertaken primarily through Agilus. "Commission approves the acquisition of additional 31.52 per cent share capital of Agilus Diagnostics Ltd by Fortis Healthcare Ltd," according to a post by CCI on X. After the transaction, the shareholding of Fortis Healthcare Ltd (FHL) in Agilus will increase from 57.68 per cent to 89.2 per cent. In August, Fortis Healthcare announced that it will acquire a 31 per cent stake in Agilus Diagnostics for Rs 1,780 crore valuing Agilus at Rs 5,700 crore. The Competition Commission of India (CCI) has also cleared the proposed merger of Diliigent Power into DB Power, and the reorganisation of

Fortis plans to add 700 beds in FY25: MD & CEO Ashutosh Raghuvanshi

Raghuvanshi provides an overview of the company's FY24 performance and expansion plans for FY25

Fortis Healthcare Q4 results: Net profits up 46.9%, revenue rises 8.7%

The company's revenue from operations rose to Rs 1,786 crore in Q4 FY24, an 8.7 per cent Y-o-Y rise from Rs 1,643 crore reported in Q4 FY23

Fortis Healthcare Q4 results: Net profit jumps 47% to Rs 203 crore

Fortis Healthcare Ltd on Thursday reported a 46.88 per cent increase in consolidated net profit at Rs 203.14 crore in the fourth quarter ended March 2024 on the back of higher revenue from its core business. The company had posted a consolidated net profit of Rs 138.3 crore in the same quarter a year ago, Fortis Healthcare said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,785.88 crore as against Rs 1,642.7 crore in the year-ago period, it added. Revenue from the core healthcare division was at Rs 1,489.78 crore in the fourth quarter as compared to Rs 1,350.98 crore in the year-ago period. Diagnostics division clocked a revenue of Rs 338.44 crore in Q4FY24 as against Rs 332.14 crore a year ago. Total expenses in the fourth quarter were higher at Rs 1,531.76 crore as compared to Rs 1,485.33 crore in the corresponding period of the preceding fiscal. The company said its board has recommended a final dividend of Re 1 per equit

Fortis Healthcare Q4 results: Net profit jumps 47% to Rs 203 crore

Fortis Healthcare Ltd on Thursday reported a 46.88 per cent increase in consolidated net profit at Rs 203.14 crore in the fourth quarter ended March 2024 on the back of higher revenue from its core business. The company had posted a consolidated net profit of Rs 138.3 crore in the same quarter a year ago, Fortis Healthcare said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,785.88 crore as against Rs 1,642.7 crore in the year-ago period, it added. Revenue from the core healthcare division was at Rs 1,489.78 crore in the fourth quarter as compared to Rs 1,350.98 crore in the year-ago period. Diagnostics division clocked a revenue of Rs 338.44 crore in Q4FY24 as against Rs 332.14 crore a year ago. Total expenses in the fourth quarter were higher at Rs 1,531.76 crore as compared to Rs 1,485.33 crore in the corresponding period of the preceding fiscal. The company said its board has recommended a final dividend of Re 1 per equit

The expendables: Is the COO position becoming redundant in India?

The COO position is being reassessed as leadership roles get recalibrated and leaders and boards want to keep their structure flat and nimble to make decisions faster than ever before

Fortis opens 80-bed tertiary hospital in Bengaluru, invests about Rs 7 cr

Fortis Hospital aims for an Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) growth of about 20 per cent

'Average length of stay' at hospitals are becoming shorter by the day

'Every hospital now tracks length of stay closely. We cannot keep on increasing the critical care beds,' says Dr Bishnu Panigrahi, group head, medical strategy and operations, Fortis Healthcare

Max, Fortis, Apollo: Why are hospital stocks bleeding in a firm market?

Nifty Healthcare has outperformed Nifty50 and some individual healthcare stocks have doubled investor wealth in FY24

Max Health, Fortis, Apollo slump up to 9% as SC warns slapping CGHS rates

Medanta, Rainbow Children Medicare, Shalby, Apollo Hospitals, Fortis Healthcare and newly listed GPT Healthcare fell 2-8 per cent in intra-day trade on BSE

Malaysia's IHH Healthcare unit sues Japan's Daiichi Sankyo over Fortis deal

On Oct, 16, Northern TK Venture filed a claim against the Japanese pharmaceuticals manufacturer stating it caused losses to the company by preventing it from proceeding with open offers

Fortis ties up with RED.Health for emergency response network across NCR

Fortis Healthcare on Monday said it has tied up with emergency response network RED.Health to offer end-to-end emergency services. The collaboration is driven by a shared vision to provide end-to-end emergency services within the minimum response time and reduce trauma and fatalities during medical emergencies, the healthcare major said in a statement. The scope of the collaboration spans across seven branches of Fortis Hospitals in Delhi/NCR, it added. As part of the collaboration, RED.Health will deploy 10 dedicated GPS-enabled advanced life support (ALS) ambulances and also support patient logistics with an independent fleet of over 30 vehicles in NCR, ensuring that ambulances reach patients within around 10 to 30 minutes, it said. Additionally, a concierge will be available at each hospital for better coordination between the patient and the ambulance, it added. "With this partnership, patients in need will be able to reach a Fortis emergency within minutes, from wherever they

Stocks to watch: L&T, GAIL, ONGC, Fortis Health, Tata Power, Paytm, Vedanta

Stocks to watch on June 23, 2023: From L&T to Fortis Health, here are top stocks to watch in Friday's trading session

Fortis Healthcare acquires Medeor Hospital for Rs 225 cr, plans expansion

Fortis Healthcare now has around 4000 operational beds across its network

Fortis Healthcare to acquire Manesar-based Medeor Hospital for Rs 225 cr

Fortis Healthcare on Thursday said it has inked a pact with the VPS Group to acquire Manesar-based Medeor Hospital for Rs 225 crore. The healthcare major said it has signed definitive agreements to acquire Medeor Hospital for an overall purchase consideration of Rs 225 crore. The hospital has a potential capacity of 350 beds and can be operationalised in a phased manner in around nine months, it added. The deal entails the purchase of land, building and movable assets of Medeor and is expected to close by end of July 2023, subject to the completion of certain conditions precedent as stipulated in the definitive agreements. The transaction will be funded through a mix of debt and internal accruals, Fortis Healthcare said in a statement. The company said the acquisition fits well with its strategic approach of expanding presence in focus geographic clusters, including Delhi-NCR. The acquisition will enable the hospital chain to deliver services to patients in the upcoming areas of

M&As to drive hospital expansion in uncharted territory, say experts

Inorganic expansion gives instant market share in a new geography, greenfield works better in markets where a chain already has a presence, say industry players and analysts

Sebi asks IHH Healthcare to proceed with open offer for Fortis after HC nod

Malaysia's IHH Healthcare on Thursday said Sebi has advised it to proceed with its stalled open offer to acquire 26.1 per cent market share in Fortis Healthcare only after obtaining order from the Delhi High Court. IHH Healthcare had acquired 31.17 per cent stake in Fortis by infusing fresh capital of Rs 4,000 crore in November 2018. The company is waiting for a go-ahead to proceed with its stalled open offer to acquire an additional 26.1 per cent stake in Fortis. The open offer, which was originally scheduled to commence on December 18, 2018 and close on January 1, 2019, entailing a total sum of Rs 3,300 crore, could not materialise due to a Supreme Court order. The apex court in September directed the Delhi High Court to consider appointing forensic auditors to analyse the transactions entered into by Fortis and other related transactions. "The Securities and Exchange Board of India (Sebi) has advised on November 16, 2022, that the Open Offers should be proceeded with after ...

Hospitals see influx of foreign patients in Sept qtr as travel norms ease

Several corporate hospitals say international patient footfalls have crossed pre-pandemic levels

Sebi slaps Rs 21 cr fine on 52 entities in Religare Finvest fund case

Capital markets regulator Sebi has imposed a fine totalling Rs 21 crore on 52 entities, including Fortis Healthcare Holdings, in a case pertaining to huge diversion and misutilisation of funds of Religare Finvest, an arm of Religare Enterprises. They have been asked to pay the fine within 45 days, according to an order passed by the Securities and Exchange Board of India (Sebi) on Monday. The case involves a complex web of transactions whereby the funds of listed company Religare Enterprises Limited (REL) were diverted through its subsidiary Religare Finvest Ltd (RFL) for the ultimate benefit of the erstwhile promoters -- RHC Holding, Malvinder Mohan Singh and Shivinder Mohan Singh. Funds were also misutilised for repayment of earlier loans taken from RFL. "The whole scheme of fraud led to diversion of funds of Rs 2473.66 crore out of a material subsidiary of REL and also mis-utilisation of funds of Rs 487.92 crores of RFL," Sebi said in its 390-page order. Such a huge diversion an