Overview
Fortis Healthcare Limited is an Indian multinational healthcare delivery company headquartered in Gurugram, Haryana. It operates a chain of hospitals, diagnostic centres and day-care speciality facilities, with a network spread across India and a presence in select international markets. The company is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
| Key facts | |
|---|---|
| Type | Public limited company |
| Industry | Healthcare |
| Headquarters | Gurugram, Haryana, India |
| Area served | India and select overseas locations |
| Listings | BSE, NSE |
| Parent | IHH Healthcare Berhad |
Background
Fortis Healthcare was founded by brothers Malvinder Mohan Singh and Shivinder Mohan Singh, who were also among the principal promoters of the pharmaceutical company Ranbaxy Laboratories. The company was set up with the stated objective of building a pan-India network of multi-speciality hospitals offering tertiary and quaternary care.
History
The first Fortis hospital was established in Mohali, Punjab, and commenced operations in the early 2000s. Over the following years the company expanded organically and through a series of acquisitions, adding hospitals in cities including Delhi, Noida, Mumbai, Bengaluru, Kolkata, Chennai, Jaipur and others.
A significant milestone in the company's growth was the acquisition of Escorts Heart Institute and Research Centre, the New Delhi–based cardiac care institution founded by Dr. Naresh Trehan, which became part of the Fortis network and was rebranded as Fortis Escorts Heart Institute. Fortis also pursued international expansion, including the acquisition of stakes in healthcare assets in Asia-Pacific markets.
In the late 2010s, the founding promoters, the Singh brothers, faced a series of legal and financial controversies, which led to their exit from the management of the company. After a competitive bidding process, IHH Healthcare Berhad, a Malaysian-headquartered hospital group, emerged as the successful bidder and acquired a controlling stake in Fortis Healthcare, becoming its parent company.
Operations
Fortis Healthcare operates a network of multi-speciality and super-speciality hospitals offering services across cardiac sciences, oncology, orthopaedics, neurosciences, renal sciences, gastroenterology, organ transplants and emergency care, among other clinical specialities. The group's diagnostic services are provided through its associate company SRL Diagnostics, one of the larger diagnostics chains in India.
Notable facilities
- Fortis Memorial Research Institute, Gurugram
- Fortis Escorts Heart Institute, New Delhi
- Fortis Hospital, Mohali
- Fortis Hospital, Mulund, Mumbai
- Fortis Hospital, Bannerghatta Road, Bengaluru
- Fortis Malar Hospital, Chennai
Significance
Fortis Healthcare is among the largest private hospital chains in India and is frequently cited alongside Apollo Hospitals, Max Healthcare and Manipal Hospitals as a leading provider of organised tertiary healthcare in the country. The company has played a role in the growth of medical tourism to India and in expanding access to advanced clinical procedures across multiple Indian cities.
Related topics
- Apollo Hospitals
- Max Healthcare
- Manipal Hospitals
- IHH Healthcare
- Ranbaxy Laboratories
- SRL Diagnostics
- Healthcare in India
- Medical tourism in India
References
- Wikidata entry: Q7810035
- Bombay Stock Exchange and National Stock Exchange of India corporate filings of Fortis Healthcare Limited
- Annual reports and investor disclosures published by Fortis Healthcare Limited and IHH Healthcare Berhad