News Releases
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Fortis Healthcare to invest Rs800 crore for 950-bed hospital |
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Fortis Healthcare Ltd. on MOnday said that it will invest 800-cror to set up a 950-multibed hospital- Fortis Healthcare international Institute of Medical Sciences(FIIMS)- will be spread over 10.7 acres of land.
In the first phase, which is epxected to be completed in the next two to three years, the company will invest Rs300 crore to create a 350-bed facility. The first phase of the project will completely be funded through debt."We will start the project through debt and at a later stage, it would be a micture of debt and internal accruals.... the company would not go beyond a debt-equity ratio of 1:1," said Shivinder Mohan Singh, Chief Executive Officer and Managing Director, Fortis Healthcare Ltd, adding that the commencement of the second phase will depend on market demand.
The company also plans to have a pan-India presidence and will increase its bed strength from current 2,000 beds to baout 7,000 beds by 2010. As of now, the company has 13 hospitals running in six states in Northern India. "We plan to have atleast 40 hospitals under the Fortis Healthcare group across 14 states by 2010. Total outlay o fthe proposed expansion could be around half-a-billion dollor, while the company would contribute about Rs.1000 crore," said Singh.
The expansion could include greenfield facilities, management contracts and acquisitions. Out o fthe 13 hospitals the company currently operates, four were acquired, four were greenfield projects and four are under management contract. "Going forward, we would try to maintain thsi ratio," Singh said. |
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