The acquisition involves the purchase of 100% of TMI Healthcare Pvt Ltd, the entity that operates the 125-bed People Tree Hospital located in Yeshwanthpur, Bengaluru.
Fortis Healthcare on Saturday announced that it has signed definitive agreements to acquire Bengaluru-based People Tree Hospital for INR 430 crore, marking another addition to its hospital network in the city.
The acquisition involves the purchase of 100% of TMI Healthcare Pvt Ltd, the entity that operates the 125-bed People Tree Hospital located in Yeshwanthpur, Bengaluru. The transaction will be executed through Fortis Healthcare’s wholly owned subsidiary, International Hospital Limited (IHL), the company said in a statement.
Apart from the acquisition cost, Fortis Healthcare has outlined plans to invest around Rs 410 crore over the next three years to expand and upgrade the facility. The proposed investments will focus on increasing bed capacity, strengthening clinical programs, and adding medical equipment, including radiation oncology services.
The company also noted that the acquisition includes an adjacent parcel measuring 0.8 acres. This land offers scope for future expansion, and the hospital’s total bed capacity is expected to exceed 300 beds over time, subject to regulatory approvals and implementation schedules.
People Tree Hospital currently operates as a multi-specialty center serving patients in North and West Bengaluru. With this acquisition, Fortis aims to integrate the hospital into its existing regional network while pursuing a gradual expansion of infrastructure.
Commenting on the transaction, Fortis Healthcare MD and CEO Ashutosh Raghuvanshi said the acquisition aligns with the company’s cluster-based expansion strategy and strengthens its presence in Bengaluru.
Fortis Healthcare already operates seven facilities in Bengaluru, making the city one of its key markets. According to the company, its current bed capacity in the city is around 900 beds, with the potential to increase to more than 1,500 beds across all facilities in the long term.
The transaction is subject to customary regulatory approvals and closing conditions. Fortis did not disclose a timeline for completion of the acquisition or start of planned capital spending.
Fortis Healthcare is among the large hospital operators in India, with a network spanning several cities across the country and focusing on tertiary and quaternary care services.
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