Fortis Healthcare on Thursday, April 20, 2023, announced that it will acquire Medeor Hospital Manesar from Medeor Hospital Limited (MHL) and VPS Health Care Private Limited. The company will acquire Medeor Hospital Manesar, along with all movable assets located therein from MHL, for Rs 225 crore.

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The Transaction is proposed to be consummated by July 31, 2023.

For this purpose, the company has signed a definitive agreement with Medeor Hospital Limited and VPS Health Care Private Limited to acquire a multi-speciality hospital. VPS Health Care Private Limited is the promoter of Medeor Hospital Limited.

The health care company in a regulatory filing on brokerages said, “Fortis Healthcare Limited has signed definitive agreements, with inter alia Medeor Hospital Limited and VPS Health Care Private Limited for the acquisition of a multi-speciality hospital situated in Sector-5, IMT Manesar, Tehsil & District, Gurgaon, Haryana (Medeor Hospital Manesar) along with all the structures and buildings as well as the movable assets present at Medeor Hospital Manesar, for a lump sum consideration of Rs 225 crore”.

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Fortis Healthcare said that the acquisition fits well with the company’s strategic approach of expanding its presence in focus geographic clusters, including Delhi NCR. This acquisition will also enable the company to deliver quality healthcare services to patients in the upcoming areas of New Gurgaon, Dwarka Expressway, IMT Manesar and National Highway 48.

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Medeor Hospital Manesar has a potential bed capacity of approximately 350 beds and can be operationalised in a phased manner in approx. 9 months, added Fortis.

Shares of Fortis Healthcare are currently trading 0.13 percent higher at Rs 267.65 per share on BSE.

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