Fortis Healthcare Ltd, one of India's largest hospital chains, has made its second acquisition in more than ten months, building on its cluster-focussed strategy to acquire hospitals in a significant market.
The Mumbai-listed company acquired the business operations of Bengaluru-based Suguna Hospital from its operator Suguna Ramaiah Hospitals Pvt Ltd for around Rs 277 crore (around $29 million), according to a stock exchange filing.
The deal entails Fortis's wholly-owned subsidiary International Hospital Ltd acquiring the business operations, land and building of the 110-bedded hospital situated in North West Bengaluru.
Fortis is acquiring the hospital via a slump sale for cash; the deal does not involve any share acquisition, the company clarified in the filing.
This is the second hospital operator the company has acquired since December, when Fortis announced the acquisition of People Tree Hospitals in Bengaluru for Rs 430 crore.
Fortis is building on its cluster-focussed inorganic strategy, acquiring strategically located hospitals in certain regions or markets such as Bengaluru to tap into the affluent crowd in certain pockets of these markets.
Fortis said Sugana Hospital, commissioned in 2006, is strategically located in an affluent and densely populated catchment area with strong connectivity. This positions the company among the leading healthcare providers in the North-West Bengaluru corridor.
With its presence through People Tree Hospitals, Fortis now has around 500 potential beds across its existing facility in Rajajinagar, the People Tree facility in Yeshwanthpur and the Suguna Hospital, which itself can expand to about 150 beds.
"With Suguna hospitals in our portfolio, we now have ~1,000 operational beds in the city including our O&M (Operations and Maintenance) facilities; reinforcing our strategy of expanding and deepening our presence in our focussed clusters," said Ashutosh Raghuvanshi, MD & CEO of Fortis.
Sugana, built on a 1 acre of land, clocked around Rs 49.8 crore in revenue in FY26, slightly lower than the Rs 49.9 crore reported in the preceding year. The parent company is controlled by its founding family, with Ramaiah Ravindra holding 80.91% stake, his mother Suguna Ramaiah holding 14.55%, and wife Sujatha Ravindra, 4.54%.
