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Fortis Healthcare has agreed to acquire People Tree Hospital in Yeshwantpur, Bengaluru, for INR 4.3 billion, strengthening its presence in South India. The acquisition will be carried out through its wholly owned subsidiary, International Hospital, by purchasing 100% of TMI Healthcare, which operates the hospital. Along with the takeover, Fortis plans to invest about INR 4.1 billion over the next three years to expand and upgrade the facility. The deal aligns with Fortis & broader strategy to increase capacity and improve returns in key urban markets.
Fortis Healthcare has announced the acquisition of People Tree Hospital, a Bengaluru-based healthcare facility located in Yeshwantpur, for a consideration of INR 4.3 billion. The transaction marks another step in the company's efforts to deepen its footprint in southern India, a region where demand for organised healthcare services continues to grow. Advertisement
The acquisition will be executed through Fortis wholly owned subsidiary, International Hospital. As part of the transaction, Fortis will acquire 100% of TMI Healthcare, the entity under which People Tree Hospital operates. Once completed, the hospital will become a fully owned asset within the Fortis Healthcare network.
In addition to the purchase, Fortis has outlined plans to invest around INR 4.1 billion in the hospital over the next three years. This capital is expected to be used for capacity expansion, infrastructure upgrades, and strengthening clinical offerings. The company indicated that the acquisition is expected to support its existing operations while contributing to revenue growth and improved profitability over time.
Fortis Healthcare currently operates 33 healthcare facilities across India, with a total bed capacity of over 5,700 beds spread across 11 states. The company is partly owned by Malaysia-based IHH Healthcare, one of Asia's largest hospital operators. Over the years, Fortis has focused on expanding in metro cities and high-demand urban clusters, particularly in Bengaluru, Mumbai, the National Capital Region, and select northern markets.
The company had earlier outlined a broader capital expenditure plan to invest INR 7 billion over the next four years to expand hospital capacity in key cities, including Bengaluru. The People Tree Hospital acquisition fits into this plan by adding a strategically located facility in a city where Fortis already has a presence and sees long-term growth potential.
Source Reuters
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