India’s Fortis Healthcare to Buy Wockhardt Hospitals

25 August 2009 (Last Updated August 25th, 2009 18:30)

India's private hospital chain Fortis Healthcare will buy ten hospitals from Wockhardt Hospitals in a deal worth Rs909 crore ($187m), touted to be the largest deal ever in the Indian healthcare industry. The deal includes the purchase of eight operating hospitals and two hospitals under

India's private hospital chain Fortis Healthcare will buy ten hospitals from Wockhardt Hospitals in a deal worth Rs909 crore ($187m), touted to be the largest deal ever in the Indian healthcare industry.

The deal includes the purchase of eight operating hospitals and two hospitals under construction spread across three states, Fortis said.

The deal will enhance Fortis' bed capacity by 1,902 beds, taking its total capacity to 5,180 beds across 38 hospitals.

The acquisition will result in a talent pool of more than 9,250 personnel including over 1,575 doctors and 5,000 nurses and paramedics, Fortis said.

The deal is expected to be complete by December 2009.