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Fortis Healthcare

Fortis Healthcare Q1 PAT rises 40 percent to Rs 174 crore

Fortis Healthcare Q1 PAT rises 40 percent to Rs 174 crore

Wed, Aug 07, 2024

Fortis Healthcare reports a 40% increase in consolidated profit after tax to Rs 174 crore for Q1 FY24, driven by strong hospital business performance. Revenue rose to Rs 1,859 crore. The company plans to add nearly 700 beds this fiscal year and is exploring growth opportunities despite a lower performance in its diagnostics business.

Fortis lines up Rs 1,300 crore capex to expand existing hospitals

Fortis lines up Rs 1,300 crore capex to expand existing hospitals

Tue, May 28, 2024

He noted that the healthcare provider is looking to add bed capacity at various existing facilities, including hospitals in Faridabad and Anandpur Sahib."At Faridabad, there is space available, and we have planned to further expand..In regard to Anandpur, we have acquired a company with a different land parcel.

This multi-bagger hospital stock hits new high; it is expected to rise another 17%

This multi-bagger hospital stock hits new high; it is expected to rise another 17%

Mon, Jan 01, 2024

Stock market today, stock market news, buzzing stocks: On the last trading day of CY23, the stock ended over 3 per cent higher at Rs 419.2 per share on the NSE.

TRENDING NOW

Fortis Healthcare stake sale: Munjal-Burmans bat for level playing field

Fortis Healthcare stake sale: Munjal-Burmans bat for level playing field

Mon, Apr 30, 2018

Fortis Healthcare on Saturday said its board will meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee (EAC).

Fortis Healthcare sale: Yes Bank confident of fetching good valuation

Fortis Healthcare sale: Yes Bank confident of fetching good valuation

Sat, Apr 28, 2018

In February this year, Yes Bank, which was the largest lender to Fortis Healthcare, had acquired a 17.31 per cent stake by invoking nearly 9 crore pledged shares. Later in mid-March, it sold 2.17 per cent of this bringing down its shareholding to 15.14 per cent as of March 2018

Fortis Healthcare bidding war: Now, minority shareholders bag 3 positions on Board

Fortis Healthcare bidding war: Now, minority shareholders bag 3 positions on Board

Fri, Apr 27, 2018

Minority shareholders of Fortis Healthcare, comprising nearly 50% of the company’s shareholding, will now have representation on the hospital’s Board. The names of three additional independent directors recommeded by them have received management’s invitation.

Fortis Healthcare sale: Manipal Health backed TPG Capital sweetens deal

Fortis Healthcare sale: Manipal Health backed TPG Capital sweetens deal

Thu, Apr 26, 2018

Manipal Health Enterprises (MHE), backed by TPG Capital, has further sweetened the deal for Fortis Healthcare, valuing its hospital business at Rs 6,322 crore.

Fortis Healthcare bidding war: The timeline; all you want to know till date

Fortis Healthcare bidding war: The timeline; all you want to know till date

Thu, Apr 26, 2018

Fortis Healthcare Ltd (FHL), which runs about 30 hospitals in India, has become a target of a heated takeover battle, with five entities bidding for the embattled company. Fortis has set up an advisory committee to evaluate binding offers from suitors vying to acquire the company, or take a stake in it.

Fortis Healthcare sale: Now, Radiant, IHH revise offers

Fortis Healthcare sale: Now, Radiant, IHH revise offers

Wed, Apr 25, 2018

Suitors do not seem to give up on Fortis Healthcare. IHH Healthcare Berhad, Asia’s largest healthcare network, has again come up with an offer for the Indian hospital chain, this time for Rs 4,000 crore, while KKR-backed Radiant Life Care too has made its second offer.

Fortis Healthcare sale: Malaysia's IHH makes binding offer to invest Rs 650 crore

Fortis Healthcare sale: Malaysia's IHH makes binding offer to invest Rs 650 crore

Tue, Apr 24, 2018

Fortis Healthcare today said Malaysia's IHH Healthcare Berhard has made a binding offer to immediately infuse Rs 650 crore in the company as part of its overall proposal to invest Rs 4,000 crore. In a regulatory filing, Fortis Healthcare said it has received an unsolicited binding offer from IHH Healthcare with a proposal to invest directly into the company.

Clouds over hospital chain Fortis Healthcare keep suitors from making higher bids

Clouds over hospital chain Fortis Healthcare keep suitors from making higher bids

Mon, Apr 23, 2018

Fortis Healthcare, one of the country`s largest hospital chain operators, is evaluating offers from domestic and international firms including Malaysia`s IHH Healthcare BHD , which runs hospitals in India, Turkey, Malaysia and Singapore, and China`s Fosun International Ltd. Analysts, bankers and consultancy firms say Fortis, with around 30 hospitals, mostly in large cities in a country that lacks good public healthcare facilities, an established brand and good roster of doctors, is a rare and attractive asset in a market that is growing strongly

Munjals, Burmans extend validity of their offer for Fortis Healthcare

Munjals, Burmans extend validity of their offer for Fortis Healthcare

Mon, Apr 23, 2018

The development follows the Fortis board forming an expert panel last week to evaluate binding offers and make the final recommendation by April 26. On April 18, Hero Enterprise Investment Office and Burman Family Office improved their binding offer with a proposal to invest Rs 1,500 crore directly at a valuation of Rs 161.6 per share, from the earlier Rs 1,250 crore

Fortis Healthcare sale: Pai, Munjal,-Burman in last lap

Fortis Healthcare sale: Pai, Munjal,-Burman in last lap

Fri, Apr 20, 2018

After the Board meeting on Thursday, Fortis Healthcare’s Independent non-executive director Brian Tempest, who chaired Thursday’s meeting, said, “The Board has approved evaluation of all the binding offers that do not need due diligence. An advisory committee will be headed by Deepak Kapoor, former chairman & CEO of PricewaterhouseCoopers to oversee the evaluation process.” Standard Chartered Bank is the financial advisor to the committee and the Board.

Fortis Healthcare sale: Hero Enterprise wants 2 seats on board, says Sunil Munjal

Fortis Healthcare sale: Hero Enterprise wants 2 seats on board, says Sunil Munjal

Fri, Apr 20, 2018

Fortis Healthcare has received an improved offer from Hero Enterprise investment office and Burman family office to invest Rs 1,500 crore directly in the company, ahead of its scheduled board meeting.

Fortis Healthcare sale: Munjals, Burmans submit higher bid of Rs 1,500 crore now

Fortis Healthcare sale: Munjals, Burmans submit higher bid of Rs 1,500 crore now

Thu, Apr 19, 2018

On April 12, 2018 Hero Enterprise promoted by Sunil Munjal and the Burman family offered to invest Rs 1,250 crore directly in Fortis Healthcare, to bail out the cash-strapped company. The improved binding offer, according to Munjal, is "even simpler, more attractive and faster to implement and without any due diligence."

Fortis Healthcare sale: Now this company makes unsolicited bid

Fortis Healthcare sale: Now this company makes unsolicited bid

Wed, Apr 18, 2018

As per the offer, it would immediately infuse Rs 100 crore into the Indian hospital chain within the next 45 days, thereafter, subject to due diligence during the next three weeks it is ready to invest at at Rs 156 per share. Last week, Manipal Health Enterprises (MHE), which is backed by TPG Capital, had made a revised offer of Rs 155 per share

Fortis Healthcare sale: IHH may make hostile bid

Fortis Healthcare sale: IHH may make hostile bid

Tue, Apr 17, 2018

Already Fortis Healthcare's shareholders are opposed to TPG Capital-backed Manipal Healthcare Enterprises' (MHE) initial as well as revised offers on the ground that they are undervalued.

Fortis Healthcare board to meet this week to consider takeover options

Fortis Healthcare board to meet this week to consider takeover options

Mon, Apr 16, 2018

Fortis Healthcare share price fell about 2 per cent on Monday after the announcement by IHH and ended 2.8 percent lower. IHH shares ended down 0.33 percent after trading was halted.

Fortis Healthcare sale: Now, Hero's Munjals, Dabur's Burmans join tussle

Fortis Healthcare sale: Now, Hero's Munjals, Dabur's Burmans join tussle

Fri, Apr 13, 2018

Fortis Healthcare sale: As the discussions were underway with MHE and other bidders for a long period, the valuation of Fortis had dropped from Rs 200 to as low as Rs 135 per share. Minority shareholders are now looking at an opportunity to get a better deal out of their investments.

Fortis shareholders seek better deal from bidders

Fortis shareholders seek better deal from bidders

Thu, Apr 12, 2018

Fortis Healthcare’s minority shareholders are still discontent with the “unsolicited binding offer” Manipal Healtcare Enterprises (MHE) announced on Tuesday. The shareholders want valuation to be bettered further or else may look at the offer that is in the working with IHH Healthcare Berhad.

Will Rakesh Jhunjhunwala approve revised Manipal-Fortis deal? Key things to know

Will Rakesh Jhunjhunwala approve revised Manipal-Fortis deal? Key things to know

Wed, Apr 11, 2018

Rakesh Jhunjhunwala said: The board doesn’t have the power to do the deal…I think the stage where the deal will need to be voted upon will not come at all…A lot of shareholders have got in touch with me

After row, TPG offers Rs 1,000 cr more for Fortis Healthcare

After row, TPG offers Rs 1,000 cr more for Fortis Healthcare

Wed, Apr 11, 2018

TPG Capital-backed Manipal Hospital Enterprises (MHE) has sweetened the deal to buy out Fortis Healthcare’s hospital business. The latest offer has “an upward revision of Rs 1,058 crore to the shareholders of Fortis Healthcare over and above the hospital business of Fortis Healthcare’s equity valuation of Rs 5,003 crore,” said a regulatory filing.

Rakesh Jhunjhunwala unhappy with Fortis Healthcare deal? What market guru said

Rakesh Jhunjhunwala unhappy with Fortis Healthcare deal? What market guru said

Wed, Apr 04, 2018

Several minority stakeholders are reportedly planning to oppose the deal between the two healthcare sector companies, as they felt the deal with Manipal undervalued Fortis' hospital business. Rakesh Jhunjhunwala said the hospital chain should be sold through a “fair” process that allows all interested parties to bid

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