Fortis Healthcare (Fortis), India’s largest and fastest growing private healthcare player, has received an approval for division of the business of its hospital located at Mohali, Punjab into two separate business verticals i.e. clinical establishment division and medical services division. The board of directors at its meeting has approved for the same in continuance of the company’s Assets Light Strategy.
The company has also received approval to execute a business transfer agreement with Escorts Heart and Super Specialty Hospital (EHSSHL), a subsidiary of Religare Health Trust, for sale of the Mohali Clinical Establishment to EHSSHL. It will also execute a deed of sale with EHSSHL for the sale of its immovable plant and machinery at the Mohali Clinical Establishment.
Besides, the company will execute a hospital and medical services agreement with EHSSHL whereby EHSSHL shall provide Clinical Establishment Services in respect of the Mohali Clinical Establishment and the Company shall operate and manage the Mohali Clinical Establishment and provide medical and healthcare services, including in-patient services and emergency services.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care speciality and hospitals, with a healthcare network spanning 9 countries.
