Fortis Healthcare acquires Medeor Hospital in Gurugram for Rs 225 crore

21 Apr 2023 , 07:38 AM

On Thursday, Fortis Healthcare said that it had signed final contracts with the VPS Group to buy the Medeor Hospital in Manesar, Gurugram, for Rs 225 crore.

The hospital may be operationalized gradually in roughly nine months and has a 350-bed maximum bed capacity.

A combination of loans and internal accruals will be used to finance the transaction.

Following IHH Healthcare’s acquisition of a majority share, this will be Fortis’ largest transaction to date.

Under certain antecedent conditions outlined in the definitive agreements, the transaction—which involves the acquisition of the land, building, and movable assets of the Medeor Hospital in Manesar, Gurugram, owned by Medeor Hospitals Limited—is anticipated to conclude by the end of July 2023.

According to Fortis, the acquisition is in line with the business’s strategy plan to increase its footprint in key geographic clusters, including as Delhi NCR.

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