Friday, February 20: Shares of Fortis Healthcare Limited traded higher after its largest shareholder, IHH Healthcare Berhad, detailed plans to accelerate expansion in India following a higher stake acquisition.
The stock was trading at Rs 922.80, up 1.79% or Rs 16.20 in the morning session.
IHH Healthcare completed a mandatory tender offer in December 2025, raising its shareholding in Fortis Healthcare to 31.17% and to 62.73% in Fortis Malar Hospitals Ltd. The move gives the Kuala Lumpur-based hospital group greater operational influence as it targets becoming one of India’s top three private healthcare providers.
IHH currently operates more than 5,000 beds across 35 hospitals in 11 Indian states. The company plans to add 2,000 hospital beds by 2028, focusing on capacity expansion at existing facilities and new projects in both metro and non-metro cities. Upcoming projects include a 200-bed hospital in Greater Noida and a 550-bed hospital in Lucknow under an agreement with Ekana Sportz City Pvt. Ltd.
India contributed $185.4 million to IHH’s EBITDA in 2024, up from $153.8 million in 2023. IHH expects margins to strengthen toward market-average levels of around 25% for comparable assets.
The company is also advancing digital initiatives, including virtual reality integration for cognitive therapy, AI-led neuroscience collaborations, and a wearable-enabled patient monitoring application under pilot phase.
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