Fortis Healthcare to Acquire Shrimann Superspeciality Hospital in Jalandhar for INR 462 Cr

Fortis will take over the hospital’s business operations, including the building and underlying land, as part of the acquisition.

Fortis Healthcare is set to acquire Shrimann Superspeciality Hospital in Jalandhar, a 228-bed facility, for INR 462 Cr in an all-cash deal.

This acquisition will significantly expand Fortis’s footprint in Punjab, increasing its total bed capacity in the state to over 1,000.

The acquisition, undertaken by Fortis’s wholly owned subsidiary, Fortis Hospital Limited (FHTL), is subject to shareholder approval.

Currently, Shrimann Hospital has 191 operational beds, with the potential to expand beyond 270.

Additionally, Fortis will acquire an adjacent 2.4-acre land parcel, which provides an opportunity to add another 180 beds in the future. With this, the total capacity of the facility could reach 450 beds.

Fortis Healthcare’s Managing Director and CEO, Ashutosh Raghuvanshi, highlighted the strategic significance of this expansion.

He noted that Fortis already has a strong presence in Punjab, operating two hospitals in Ludhiana and one each in Amritsar and Mohali.

The transaction will enable the company to expand beyond 1,000 beds, strengthening its market presence and capitalizing on emerging regional healthcare opportunities.

Fortis will take over the hospital’s business operations, including the building and underlying land, as part of the acquisition.

The adjacent land parcel for potential expansion is also part of the deal. The transaction is expected to be completed by March 2025.

Shrimann Superspeciality Hospital, accredited by the National Accreditation Board for Hospitals & Healthcare Providers (NABH), offers a wide range of super-specialty services.

These include cardiac sciences, nephrology, general and laparoscopic surgery, oncology, neurosciences, and gastroenterology.

Fortis’s Growth Strategy

Over the past few years, Fortis has been actively pursuing acquisitions to expand its hospital network.

It had earlier acquired a 350-bed hospital in Manesar, Haryana, and a 100 percent stake in Artistery Properties, which included land near its Anandpur facility in Kolkata.

Currently, Fortis operates 27 healthcare facilities across India, including joint ventures and operations & maintenance (O&M) facilities, with approximately 4,700 operational beds.

Stay tuned for more such updates on Digital Health News.