Fortis Healthcare Inks Agreement for 400-bed Super Speciality Hospital in Delhi

Following this transaction, Fortis's regional capacity will expand to over 3,400 beds.

Fortis Healthcare’s wholly-owned subsidiary has signed definitive pacts with Seth Sunder Lal Jain Charitable Eye Hospital (SLJ Society) to provide healthcare services to an upcoming 400-bedded super speciality hospital in Ashok Vihar, Delhi.

The Healthcare Services Agreement (HSA), executed by Fortis Hospotel (FHTL), has a committed term of 29 years, extendable on mutually agreed terms.

The hospital is expected to commence operations in 3 to 4 years, subject to requisite approvals.

Under the agreement, FHTL holds long-term exclusive rights to provide specified inpatient healthcare services, necessary clinical manpower, and specialised equipment such as Cath Labs, LINAC, PET-CT, and surgical robots in exchange for an agreed service fee.

The hospital will be owned, operated, and managed by SLJ Society, while Fortis will provide healthcare services to the society.

Addiotnlly, the land, building, associated civil infrastructure, and associated medical infrastructure will be owned and developed by SLJ Society.

The new hospital will be developed as an advanced facility on around 3.1 acres of land in Ashok Vihar, North-West Delhi.

With a planned capacity of more than 400 beds, the facility will be operationalised in phases.

As part of the agreement, FHTL will extend a phased construction and operations loan of up to INR 567 crore to the Society, which will own and develop the asset.

The upcoming facility will offer comprehensive tertiary and quaternary care across key areas like oncology, cardiac sciences, neurosciences, renal sciences, and robotic surgeries.

Following this transaction, Fortis's regional capacity will expand to over 3,400 beds.

Commenting on the latest development, Dr Ashutosh Raghuvanshi, MD and CEO of the company, said, "The signing of the Healthcare Services Agreement with SLJ Society marks an important collaboration aimed at enhancing access to quality healthcare in North-West Delhi, an underserved micro-market characterised by a dense residential population. Under this arrangement, the hospital will be owned, operated, and managed by SLJ Society, with Fortis providing healthcare services pursuant to the agreement."

“Pursuant to this, Fortis’ services would extend to more than 3,400 beds across the Delhi-NCR region going forward,” added CEO Ashutosh Raghuvanshi.

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