Fortis Healthcare Expanding Capacity with 600 Beds by Fiscal Year End

Fortis Healthcare Ltd is gearing up to enhance its bed capacity by adding 600 beds to the existing 4,500 operational beds by the end of the financial year. Additionally, the healthcare giant plans to introduce 2,200 beds across its current hospitals within the next three years. This strategic expansion aims to increase the overall capacity by nearly 55%, marking a significant upward trajectory. Dr. Ashutosh Raghuvanshi, CEO of Fortis Healthcare, stated that this growth trend is anticipated to persist over the next two to three years.

The company is set to invest a cumulative amount of approximately ₹600 crore in the ongoing fiscal year. Out of this, ₹400 crore is earmarked for growth capital expenditure, focusing on constructing new buildings and infrastructure. The remaining ₹200 crore will be allocated to replacement and maintenance activities, covering routine operations and maintenance expenses, including equipment replacement and upgrades.

Dr. Raghuvanshi emphasized the preference for brownfield projects over greenfield ones due to the shorter time span and faster ramp-up period associated with the former. However, he added that Fortis Healthcare is open to greenfield projects, particularly in areas like the greater Bombay region, northern Bengaluru, and Kolkata, if suitable opportunities arise.

In the next six months, Fortis Healthcare is planning to establish its inaugural center for mental health therapy, with Gurgaon in the National Capital Region being a likely location.

HBL