Home  »  Company  »  Fortis Healthcare Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Fortis Healthcare Ltd. Company History and Annual Growth Details

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.

Major Events:

Year Event

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
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

-Fortis Healthcare Ltd Issues Rights in the Ratio of 2:5


- 25% stake in Parkway holdings, Asia’s largest private healthcare provider.

- "Fortis Healthcare infuses USD 100 Million".

- Fortis increases stake in Parkway.

- Government of Singapore Investment Corp (GIC) to join hands with Fortis at strategic level.

- Fortis Healthcare has entered into a pact with two hospitals in Dubai and Tanzania to set up specialised medical facilities.

- Company has announced its foray into Speciality Medical Centres focused on the management of diabetes, metabolic diseases and endocrinology.


- A Memorandum of Understanding has been signed by Fortis Healthcare Ltd with the University of Utah to develop courses for Emergency Medical Technicians.

- Through its wholly owned subsidiary, has entered into an agreement with Cauvery Hospital Limited, Mysore, wherein Fortis will set up, operate and manage a Cardiac Centre in the hospital.

- The name of Fortis Healthcare Limited shall be changed to Fortis Healthcare (India) Limited w.e.f. April 11, 2011.

- "Fortis Healthcare ties up with TotipotentRX to set up Stem Cell Therapy Centres".

- Fortis Healthcare (India) Ltd has announced that it will buy 86 per cent stake in Super Religare Laboratories Ltd (SRL) .

- Fortis Healt - Fortis announces new hospitals in Hyderabad and Agra.


- "Fortis to get Rs. 3700 Mn Equity infusion in SRL through IFC and NYLIM Jacob Ballas India".

- Fortis Healthcare raises around S$510 mn through Singapore IPO.

-Company has changed its name from Fortis Healthcare (India) Ltd. to Fortis Healthcare Ltd.

-"Fortis launches its Flagship Hospital, One of the First of its Kind in Asia Bridges the gap for expert talent, trans-disciplinary, quaternary care".
-"Fortis to divest stake in Quality Healthcare to Bupa for US$ 355 million Intensifies Focus on Healthcare Delivery in India".

-"Fortis launches state of the art, multi super-specialty hospital in Ludhiana".

-Fortis Healthcare has fully acquired Religare Health Trust Trustee Manager for USD 14.9 million (about Rs 100 crore).
-Fortis group gets CCI nod for internal reorganisation.
-Fortis Healthcare First in India to Monitor and Publish Clinical Outcomes for Cardiology.
-Fortis Healthcare launches National helpline for students and parents to help deal exam stress.