Fortis Healthcare to raise Rs 2,000 crore by listing hospitals business in Singapore

Fortis Healthcare, country’s second largest hospital chain is likely to raise about Rs 2,000 crore by listing its hospitals business in Singapore, through group unit Religare Health Trust. Through these funds, it aims to expand its clinical operations and cut debt. It has received in-principle approval for the listing proposal. The company aims to add about 2,500 hospital beds in 3-4 years.

The company has posted a net profit surge of 41.34% to Rs 41.54 crore for the quarter ended March 31, 2012 as compared to Rs 29.39 crore for the quarter ended March 31, 2011. Total Income of the company zoomed by 206.12% to Rs 1388.57 crore for the quarter from Rs 453.60 crore in corresponding previous quarter.