Fortis Healthcare buys hospital in Mauritius

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New Delhi: In its first ever acquisition overseas, Fortis Healthcare on Thursday announced that it has bought a controlling stake in Mauritian hospital, Clinique Darne, in a joint venture with the leading Mauritian industrial group CIEL that operates in agro-industry, textiles and equity investment.

Fortis, through its wholly-owned subsidiary, Novelife Ltd, has partnered with CIEL to acquire a controlling stake in Clinique Darne hospital with an investment of $7 million, of which both the players incur $ 3.5 million.

Post-acquisition the hospital has been renamed 'Fortis Clinique Darne'. "Although it is the first overseas acquisition by the company, but our focus continues to be the Indian market and we will keep looking for more acquisitions in domestic market," Fortis Healthcare CEO and MD Shivinder Mohan Singh said.

Post-acquisition, Fortis plans to convert the hospital into a tertiary care facility and will enhance the capacity of the facility to 400 beds, from its present capacity of 120 beds.

Clinique Darne has adequate potential for growth, keeping in mind its six-acre property and the size of the market in Mauritius and neighbouring countries, he said.

The decision to acquire the controlling stake in the Mauritian hospital was part of Fortis' plans to expand its footprints in developed countries, Singh added. Fortis, through this acquisition will get a seamless entry into Mauritius where majority of the population is of Indian origin. Fortis Clinique Darné is evenly poised to leverage Fortis' expertise and experience of operating super specialty hospitals to upgrade the clinical level of its medical programme to tertiary care and grow significantly in size. Fortis, with its wide network of tele-medicine in African countries, would also help evolve Fortis Clinique Darné as a super specialty centre for neighbouring countries, according to a company statement.

Speaking about the company's domestic operation, Singh said, "By the end of the current fiscal, the total capacity of the hospital chain would be 2,800 beds with the addition of one more hospital of 150 bed capacity".