FORTIS Q3FY16 CONSOLIDATED INDIA REVENUES AT RS 1029 Cr
CONSOLIDATED INDIA EBITDAC AT RS 161 CR, 15.7% MARGIN, EBITDA GROWS 25% TO RS 48 CR
YTD DEC 2015 (9 MONTHS FY16) CONSOLIDATED INDIA REVENEUES AT RS 3144 CR
CONSOLIDATED INDIA EBITDAC AT RS 518 CR, 16.5% MARGINS VS 15.1% IN CORR. PERIOD
EBITDA GROWS 63% TO RS 174 CR
BOARD APPROVES THE PROPOSED ACQUISITION OF 51% ECONOMIC INTEREST IN FORTIS HOSPOTEL LIMITED (FHTL), AN RHT SUBSIDIARY
Fortis Healthcare Ltd. (Fortis), India’s leading healthcare delivery Company, today, announced its consolidated results for the quarter ended December 31, 2015 (Q3FY16)
The Board of Directors at its meeting today also approved the acquisition of a 51% economic interest in Fortis Hospotel Limited (FHTL), a subsidiary of the Religare Health Trust comprising the Fortis Shalimar Bagh, New Delhi and the Fortis Memorial Research Institute (FMRI), Gurgaon Clinical establishments. A separate Press Release outlining the details and key highlights of the aforesaid transaction is being released along with this Press Release.
India Business - Key Highlights for the Quarter (Q3FY16)
*EBITDAC refers to EBITDA before net business trust costs
India Business - Key Highlights for YTD Dec 2015 (9 MONTHS FY16)
*EBITDAC refers to EBITDA before net business trust costs
Reported Group Financial Highlights for Q3FY16 & YTD DEC 2015 (9 MONTHS FY16)
The reported results for Q3FY16 and 9 MONTHS FY16 are not comparable to the corresponding previous period due to progressive divestments of the Company’s international businesses namely RadLink Asia, Singapore and Fortis Surgical Hospital Singapore which were a part of the Company’s business in the corresponding previous periods.
Commenting on the results, Mr Bhavdeep Singh, CEO, Fortis Healthcare, said, “ ”We are witnessing continued traction in our operations with significant gains in network bed occupancy, revenue and EBITDA margins alongside improvements in efficiency. I believe, we will get stronger and better in the coming quarters as we further synergize and accelerate our efforts through the network on multiple fronts with a sharp focus on clinical excellence and patient experience.”
The Company continued to maintain a healthy Balance Sheet with net debt of the Company as on 31 December 2015 at Rs 708 Cr representing a net debt to equity ratio of 0.15x (as compared to 0.27x as on 31 December 2014)
Key Highlights during the quarter - Hospital Business
During the quarter, Fortis continued to demonstrate clinical excellence across specialities and facilities. Our Fortis Organ Transplant (FORT) programme at multiple hospitals across the country is gaining wider acceptance with the gradual recognition in society that an act of organ donation is amongst the noblest of contributions that can be made by an individual in alleviating human suffering. At Fortis Malar, Chennai we have already performed over 70 heart transplants making this the most advanced and extensive heart transplant programme not only in the country but in all of Asia. Similarly, Kidney, Liver transplantations continue to grow through our network providing relief to thousands of people in the country who have exhausted other options of living with dignity.
In a rare case of multiple transplants three of the four major organs – including the heart, liver and a kidney – retrieved from a deceased donor at Fortis Memorial Research Institute (FMRI), Gurgaon, were transplanted into recipients at the same facility. The other kidney was transplanted in a deserving patient at the Army Research & Referral (R&R) Hospital, New Delhi. Complex surgeries continue to be performed everyday through our network and provide a renewed hope of life to many adults and children including neonates, as was the case with the month old baby who underwent a successful open heart surgery for multiple defects that included a transposition of great arteries (TGA), a ventricular septal defect (VSD) and a patent ductus arteriosus (PDA). Such surgeries require medical skills of the highest order.
We at Fortis continue to invest in the latest equipment and technologies to back our desire that our hospitals and doctors remain at the cutting edge of medicine. The FMRI, Gurgaon, acquired a Da Vinci Xi advanced robotic ideal for precision, minimally invasive surgeries. The system allows surgeons to operate with pinpoint accuracy, causing very little damage to surrounding tissues, with a number of benefits to patients including reduced blood loss, fewer complications and a shorter hospital stay.
In yet another significant display of humanitarian service from the heart, our doctors in Chennai, set a shining example of commitment. They braved heavy unprecedented rains, and huge traffic snarls to perform a heart transplant, in-spite of the prevailing chaos and saved a valuable life.
Indeed, there are many such heart-warming stories as we go about our daily routine living up to our motto of “Saving and Enriching Lives”.
Key Highlights during the quarter - Diagnostics Business
Awards & Recognitions – Q3
Fortis continued to be feted internationally for its outstanding contributions.
In a Fortis Led research project, named TUXEDO India, our team clearly demonstrated the efficacy of Everolimus eluting stents over Paclitaxel eluting stents in Diabetics, putting to rest a decade old controversy on their comparative superiority. The success of the trials has placed India and Fortis firmly on the global map for clinical research.
On yet another important parameters of patient safety, Fortis Hospital, Mulund, Mumbai, was declared the winner from India in the Anaesthesia & Surgical Safety category, at the 5th International Patient Safety Congress, 2015, underscoring its continued commitment to safe surgical checklists for patient safety and high standards of service excellence.
About Fortis Healthcare Limited
Fortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka with 54 healthcare facilities (including projects under development), approximately 10,000 potential beds and 306 diagnostic centres.
DISCLAIMER
This press release may contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forwardlooking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Company may alter, modify or otherwise change in any manner the content of this press release, without obligation to notify any person of such revision or changes.
For further details please contact:
Raghu Kochar
Fortis Healthcare Ltd
9811617256
Anurag Kalra / Gaurav Chugh
Fortis Healthcare Ltd
9810109253 / 9958588900