Fortis Healthcare Expands with Acquisition of People Tree Hospital

Fortis Healthcare has announced its acquisition of Bengaluru-based People Tree Hospital for four hundred thirty crore. The company signed definitive agreements to acquire the one hundred twenty-five bed hospital located in Yeshwanthpur, Bengaluru, through a hundred percent acquisition of TMI Healthcare Pvt Ltd, the operating entity of People Tree Hospital.

This acquisition will be executed by Fortis' wholly-owned subsidiary International Hospital Limited. Fortis plans to invest an additional four hundred ten crore over the next three years to enhance the facility's bed infrastructure, medical equipment, and clinical programs, particularly in radiation oncology.

The acquisition includes an adjacent land parcel of zero point eight acres, allowing for potential expansion of bed capacity to over three hundred beds. Fortis Healthcare's Managing Director and CEO Ashutosh Raghuvanshi stated that this acquisition aligns with their vision to expand their footprint in focused clusters and leverage the benefits of scale and synergies.

The acquisition is strategically significant and will bolster Fortis' position in the Bengaluru market, where it currently operates seven facilities and aims to scale up bed capacity from nine hundred to over one thousand five hundred beds.