Fortis to enter novel healthcare verticals
Fortis Healthcare (India) Ltd, India’s one of the fastest growing chains of hospitals, has recently received an in-principal approval from its Board of Directors in its meeting. This move was in order to acquire 86 per cent stake in Super Religare Laboratories Ltd (SRL), one of India’s leading diagnostic services companies, offering diagnostic testing (including pathology and radiology), preventive care testing and clinical research trial testing.
In its current phase of growth, Fortis is focussed on ‘Medical Inclusion’, which would mean more comprehensive healthcare services that extend beyond metros in the country, into the smaller cities. Besides the stated target of at least 25 hospitals in India’s tier-II and tier-III towns over the next two years, Fortis is adding new verticals focused on medical specialities.
In addition to the two recently launched verticals, C-Doc for diabetes & metabolic diseases and stem cell therapy centres, the Board in its meeting approved the setting up of standalone dialysis centres along with a foray into standalone & in-hospital diagnostic centres. The in-principle approval to acquire stake in SRL is a step in this direction. SRL has an ever expanding network presently consisting of 8 reference laboratories, 7 centres of excellence, 181 network laboratories (164 pathology, 17 radiology), 15 wellness centres and 888 collection centres (including 23 overseas).
Commenting on this acquisition, Shivinder Mohan Singh, Managing Director, Fortis Healthcare (India) Ltd, said, “We see great benefit in augmenting the Fortis presence with new speciality-based verticals. The addition of Diagnostics and Retail Dialysis will serve to enhance the quality of care to our customers. Most importantly, the new structure is a meaningful step toward medical inclusion in India and therefore will help us offer value-based medicine.”