Fortis to acquire Jalandhar’s Shrimann Superspeciality Hospital for $53m

The acquisition will be carried out by Fortis Hospotel Limited.

Fortis Healthcare Limited is set to acquire the 228-bed Shrimann Superspeciality Hospital in Jalandhar, India for approximately $53m (INR 462 crores).

The acquisition will be carried out by Fortis’ wholly-owned subsidiary, Fortis Hospotel Limited (FHTL), and is subject to shareholder approval.

FHTL will acquire the facility’s business operations, hospital building, and underlying land. The deal also includes an adjacent land parcel for potential future expansion.

Meanwhile, the final purchase price will be subject to customary closing adjustments as outlined in the definitive agreements.

INR1 = $0.012