Fortis Healthcare has announced the acquisition of Shrimann Superspecialty Hospital in Jalandhar, Punjab, in an all-cash deal worth Rs 462 crore. The acquisition will be made by Fortis Hospotel Limited, a wholly-owned subsidiary of Fortis Healthcare, and is subject to shareholder approval. The deal includes the acquisition of the hospital’s entire operations, building, and land, as well as an additional parcel of land for potential future expansion.
Shrimann Hospital, with 228 beds and also has a potential to add 45 more beds, is a leading multi-specialty hospital in Jalandhar, offering a range of super specialties including cardiac sciences, nephrology, and more. The hospital is NABH accredited and has generated revenues of Rs 154 crore and an EBITDA of Rs 36 crore for the nine months ending December 2025.
The acquisition is in line with Fortis’ cluster-focused inorganic growth strategy and will bolster the company’s presence in the state of Punjab. The company already has a significant presence in the region, with 800 beds across four facilities, and this deal will allow it to expand to over 1000 beds and strengthen its market presence.
Fortis Healthcare’s MD and CEO, Dr. Ashutosh Raghuvanshi, believes that the acquisition is a strategic fit, given the company’s existing presence in Punjab, and will enable it to capitalize on market opportunities and leverage scale and synergies. The transaction is expected to be completed by the end of March 2025, subject to the fulfillment of certain conditions precedent.