Fortis Healthcare Limited (the “Company”) has signed definitive agreements, with Medeor Hospital Limited (“MHL”) and VPS Health Care Private Limited for acquisition of a multi-speciality hospital situated in Sector-5, IMT Manesar, Gurgaon, Haryana (“Medeor Hospital Manesar”) along with all the structures and buildings as well as the movable assets present at Medeor Hospital Manesar, for a lump sum consideration of INR 225 Crore, on such terms and conditions, as contained in the relevant definitive agreements (“Transaction”). The aforementioned Transaction only entails acquisition of the Medeor Hospital Manesar asset, along with all movable assets located therein.
The acquisition fits well with the Company’s strategic approach of expanding its presence in focus geographic clusters, including Delhi NCR. The acquisition will enable the Company to deliver quality healthcare services to patients in the upcoming areas of New Gurgaon, Dwarka Expressway, IMT Manesar and National Highway 48. The hospital is easily accessible from these areas and can additionally benefit patients from across Rewari, Mahendargarh, Bhiwadi, Pataudi, Farukh Nagar and other areas in the vicinity.
Further, Medeor Hospital Manesar, has a potential bed capacity of approximately 350 beds and can be operationalized in a phased manner in approx. 9 months.
For a comparison of return on capital employed of various hospital chains you may refer to our post here.
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