Fortis Healthcare Ltd Company History and Annual Growth Details
|Changes in Registered Office:
The registered office of the Company was initially situated at 25, Nehru
Place, New Delhi 110 019, India. Pursuant to a Board resolution dated
September 16, 2003 the registered office was shifted to B- 9, Maharani
Bagh, New Delhi 110 065, India. Subsequently, pursuant to Board
resolution dated February 10, 2006 the registered office of the Company
was shifted to Piccadily House, 275- 276, 4th Floor, Captain Gaur Marg,
Srinivas Puri, New Delhi 110 065, India, which is the current Registered
Scheme of merger/amalgamation between Fortis Medical Centre
Holdings Limited and the Company dated October 7, 2005:
The High Court of Delhi, through its order dated October 7, 2005 in respect
of the company petition (C.P. No: 240/2005 and 241/2005) approved the
scheme of amalgamation/merger between the Company and Fortis Medical
Centre Holdings Limited ('FMCHL'), and which at the time of amalgamation
was our board controlled subsidiary, with effect from April 1, 2004
Salient features of the Scheme:
The principal terms of the Scheme, as sanctioned by the High Court of Delhi,
are set forth below: The entire undertaking and business, all properties, tangible
and intangible assets including trademarks, patents, design, copyrights,
investments, approvals, licenses, tax benefits, pending projects, debts, liabilities
and obligations, including income tax liabilities accrued or to accrue in FMCHL
was transferred to the Company with effect from April 1, 2004. Pursuant to
the Scheme, Fortis Hospital, Amritsar was transferred to the Company. However,
the transfer of the aforesaid was subject to the existing charges or hypothecation
in respect of the assets of FMCHL.
All the staff, workmen and employees of FMCHL in employment on the date
immediately preceding December 23, 2005 (i.e., the date on which a certified copy
of the order of the High Court of Delhi was filed with the RoC) became the
employees of the Company without any break or discontinuity in service and on
conditions not less favourable than those subsisting at FMCHL.
In consideration of the transfer and vesting of the undertaking and the assets and
liabilities of FMCHL and in consideration of the mutual covenants agreed to in the
Scheme, the Company agreed to allot the Equity Shares to the existing shareholders
of FMCHL, in the ratio of 1:4 (i.e., one Equity Share in exchange of every four
equity shares of FMCHL of Rs. 10 each).
In compliance with the Scheme, the Company allotted 520,000 Equity Shares to
the shareholders of erstwhile FMCHL on February 10, 2006.
June 2001 Commissioning of Fortis Hospital, Mohali.
August 2003 Inauguration and commissioning of Fortis Hospital, Amritsar.
October 2003 Executed an agreement with Seth Jessa Ram and Bros Charitable
Hospital Trust for the operation and management of Jessa Ram
Hospital, New Delhi.
August 200 Commissioning of Fortis Hospital, Noida.
September 2005 Acquired 90% of the equity share capital of Escorts Heart
Institute and Research Centre Limited resulting in the acquisition of
EHCL, EHSSIL, EHSSHL and EHRCL.
October 2005 Signed an agreement with Jeewan Mala Hospital Private Limited for
the operation and maintenance of Jeewan Mala Hospital, New Delhi.
January 2006 Signed an agreement with Sunrise Medicare Private Limited for the
operation and management of Fortis La Femme, New Delhi, and
acquisition of 5% equity interest in Sunrise Medicare Private Limited,
with an option to acquire additional equity shares.
January 2006 Signed an agreement with Khalil Public Welfare Trust for the
operation and maintenance of Khyber Medical Institute, Srinagar.
March 2006 Acquired 99.99% of the paid up equity share capital of International
Hospital Limited resulting in the acquisition of Fortis Hospital, Noida.
March 2006 Acquired 100.00% of the paid up equity share capital of Oscar
Bio-Tech Private Limited.
-Fortis inks deal with Jessa Ram Hospital to takeover the management of the hospital
-Fortis Hospital rolls out Golden Age Club
-Fortis buys Escorts Heart
-Fortis Healthcare signs $33.33m pre-IPO deals
The Company was incorporated on February 28, 1996 as Rancare Limited
under the Companies Act. Subsequently on June 20, 1996 our name was
changed to our present name-Fortis Healthcare Limited. The Company
received the certificate of commencement of business on July 1, 1996.
-Fortis Healthcare to buy majority stake in Trehan's Medicity
-Fortis Healthcare signs $33.33m pre-IPO deals
-Fortis HealthWorld has joined hands with US hearing aid maker Starkey for its Audible range and is looking to soon offer dental services at its Health stores too.
-Colgate-Palmolive India, the market leader in toothpaste in India, declared the acquisition of three domestic companies in south India recently. The company purchased 75 per cent equity in Advanced Oral Care Products (Goa), Professional Oral Care Products (Goa) and SS Oral Hygiene Products (Hyderabad).
-Fortis Healthcare acquires Hiranandani Hospital
-Fortis Healthcare Ltd has informed that the Board of Directors of the Company at its meeting held on January 23, 2008, inter alia, has approved change in registered office of the Company from 'Piccadily House, 275-276, 4th Floor, Captain Gaur Marg, Srinivas Puri, New Delhi - 110065' to 'Escorts Health Institute And Research Centre, Okhla Road, New Delhi - 110025'.
-Fortis completes Wockhardt Hospital Acquisition
-Fortis signs $15 mn outsourcing deal with HCL