In a strategic move aimed at expanding its presence in key geographic clusters, Gurugram-based healthcare company, Fortis Healthcare Ltd on Wednesday (August 30) said it will acquire Medeor Hospital Manesar.
This acquisition will cost Fortis Rs 225 crore and it involves the procurement of both the Medeor Hospital Manesar asset and all moveable assets housed within the facility, Fortis Healthcare said in a regulatory filing.
The Medeor Hospital Manesar is a multi-specialty healthcare facility nestled in the bustling Sector-5 of IMT Manesar, Gurgaon, Haryana. The agreement for this transaction has been inked between Fortis Healthcare, Medeor Hospital Ltd, and VPS Health Care Private Ltd, the promoter of Medeor Hospital Ltd.
Fortis Healthcare's strategic vision aligns seamlessly with this acquisition, further consolidating its footprint in high-potential regions, particularly in the Delhi National Capital Region (NCR).
This move positions the company to offer top-tier healthcare services to residents in the burgeoning areas of New Gurgaon, Dwarka Expressway, IMT Manesar, and along National Highway 48.
The hospital's strategic location ensures easy accessibility not only for those living in these areas but also to patients from nearby regions like Rewari, Mahendargarh, Bhiwadi, Pataudi, Farukh Nagar, and beyond.
Medeor Hospital Manesar has the potential to house approximately 350 beds, with plans to operationalise the facility in phases, estimated to be completed within nine months or so. The transaction is slated for completion by July 31, 2023, subject to the necessary governmental and regulatory approvals.
Shares of Fortis Healthcare Ltd ended at Rs 331.55, down by Rs 2.90, or 0.87 percent on the BSE.
