Fortis Healthcare Acquires Shrimann Superspecialty Hospital

Fortis Healthcare is set to expand its presence in Punjab with the acquisition of Shrimann Superspecialty Hospital in Jalandhar. The deal, valued at ₹462 crore, will be an all-cash transaction and will be executed through Fortis Hospotel Limited (FHTL), a wholly-owned subsidiary of Fortis Healthcare. The acquisition includes the hospital building, the land it stands on, and an additional 2.4-acre land parcel for future expansion.

This move is part of Fortis Healthcare’s strategy to grow through acquisitions and strengthen its network in Punjab. The company already operates hospitals in Mohali, Amritsar, and Ludhiana, and this addition will further improve patient care in Jalandhar and nearby areas.

Shrimann Superspecialty Hospital, established in 2018, is spread over three acres and is NABH-accredited. It currently has 191 operational beds but has the potential to expand to over 450 beds in the future. The hospital offers a wide range of medical services, including cardiac sciences, nephrology, oncology, neurosciences, gastroenterology, and general and laparoscopic surgery.

In the first nine months of FY25, the hospital generated ₹154 crore in revenue, with an EBITDA of ₹36 crore. Fortis plans to immediately add 45 more beds, taking the total capacity to 270. In the long term, it aims to use the additional land parcel to expand capacity to over 450 beds.

The transaction is expected to be completed by March 2025, subject to regulatory approvals. Fortis Healthcare’s CEO & MD, Ashutosh Raghuvanshi, emphasized that the company is actively seeking acquisitions to strengthen its position in key markets. With this addition, Fortis' total bed capacity in Punjab will cross 1,000, further cementing its leadership in the region’s healthcare sector.