Fortis to invest Rs 250-cr in FY11 for project expansion
After completing the Wockhardt buy this month, healthcare major, Fortis Hospitals today said it plans to invest Rs 250-crore, to expand its facilities pan-India.
"We plan to invest Rs 250-crore to complete the projects in Kolkata, Mumbai and Bangalore. This investment will be done over the next financial year," Fortis Hospital's Chief Executive Officer, Vishal Bali said.
With this investment, Fortis plans to set up two new multi-speciality hospital projects in Kolkata and Bangalore, besides expanding its existing facility in Mumbai, Bali said.
The Kolkata and Mumbai multi-speciality projects, will have 414 beds and 300 beds capacity respectively, while the Bangalore facility will have 120 beds, he said.
Fortis also have plans to set up a separate oncology division in Mumbai in 2010, Bali said, adding that the Mumbai facility will have a bed-strength of 120.
In Bangalore, where Fortis is currently headquartered, will have an additional 200 beds at its existing hospital at Bannerghatta Road in Bangalore, the company said.
On the completion of expansion projects, the total bed capacity in Bangalore will be 1,000 by 2011, which will include 120 intensive care unit beds, Bali said.
Fortis, which acquired Wockhardt’s 10 hospitals in August this year for an estimated Rs 909-crore, presently have a network of 39 hospitals, with total bed capacity of 5,180 across 12 cities.
Post the Wockhardt acquisition, Fortis had strengthened its operations in the areas of cardiac surgery, neuro sciences, minimal access surgery, renal and liver transplants, Bali said.
