Fortis Healthcare to acquire 10 hospitals from Wockhardt for Rs 909 cr

Fortis Healthcare, a network of 28 hospitals with the capacity to increase inpatient beds to 3,300 beds, has decided to acquire eight operating hospitals and two hospital projects under construction from Wockhardt Hospitals for a total consideration of Rs 909 crore. The business transfer is expected to be completed by end of December 2009 upon the fulfilment of agreed conditions.

The acquisition will enhance Fortis footprint in Southern, Western and Eastern India, thereby strengthening the Fiortis brand as one of the leading healthcare service provider in the country. 

The 10 hospitals are spread across metros in three states (two in Mumbai, five in Bengaluru, and three in Kolkata) and will provide Fortis a pan India presence consistent with its stated strategy. This acquisition will augment the bed capacity by 1902 beds (including 534 beds in two Greenfield projects). With the acquisition, the aggregate bed capacity of the Fortis Network shall stand at 5180 beds spread over 38 hospitals.