The agreements have been executed by Fortis Hospotel Ltd (FHTL), a wholly-owned subsidiary of Fortis Healthcare. The hospital is expected to commence operations in 3-4 years, subject to necessary approvals.
Under the Healthcare Services Agreement (HSA), FHTL will have long-term exclusive rights to provide specified inpatient healthcare services and specialised equipment at the hospital. These include a Cath Lab, LINAC, PET-CT and surgical robot, among others.
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The HSA has a committed term of 29 years, with an option to extend it for a further period on mutually agreed terms. FHTL will receive an agreed service fee from SLJ Society and will also bring in the necessary clinical manpower for providing the healthcare services.
Hospital to be owned and managed by SLJ Society
The hospital will be owned, operated and managed by SLJ Society, while Fortis will provide healthcare services to the society.
SLJ Society will own and develop the land, building, associated civil infrastructure and certain medical infrastructure. For construction, upgradation and operation of the hospital, FHTL will provide a loan to the society in a phased manner over the next 3-4 years, based on construction progress.
The hospital will be developed as a state-of-the-art facility on around 3.1 acres of land in Ashok Vihar, North-West Delhi. It will have a planned capacity of more than 400 beds, which will be operationalised in phases.
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Hospital to offer tertiary and quaternary care
The facility will offer tertiary and quaternary healthcare services across specialties including oncology, neurosciences, cardiac sciences, gastroenterology, orthopaedics and renal sciences. It will also provide multi-specialty robotic surgeries and transplant services.
The hospital will also fulfil applicable regulatory and social obligations by providing free inpatient and outpatient treatment to eligible patients under the Economically Weaker Sections (EWS) category.
Dr Ashutosh Raghuvanshi, MD and CEO of the company, said, “The signing of the Healthcare Services Agreement with SLJ Society marks an important collaboration aimed at enhancing access to quality healthcare in North-West Delhi, an underserved micro-market characterised by a dense residential population.
Under this arrangement, the hospital will be owned, operated and managed by SLJ Society, with Fortis providing healthcare services pursuant to the agreement.”
Shares of Fortis Healthcare Ltd ended at ₹868.50, down by ₹10.50, or 1.19%, on the BSE.
