Wockhardt acquisition could bring in Rs 360-crore revenue for Fortis

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http://www.financialexpress.com/news/Wockhardt-acquisition-could-bring-in-Rs-360... 05-02-2010

The focus now should shift to achieving higher average revenue per bed. the company would strive to better the estimated annual revenue of Rs 360-370 crore from the Wockhardt hospitals. 05-02-2010 . The impact of the acquisition of the ten Wockhardt hospitals has started reflecting on the balance sheet of Fortis with the chain of hospitals contributing Rs 15 crore in 15 days in the third quarter of this financial year.Corporates & Markets . Fortis Hospitals Limited.Story Wockhardt acquisition could bring in Rs 360-crore revenue for Fortis fe Bureaus Posted: Saturday. Jan 23. and funded partly by the recently concluded rights issue.200 medical and non-medical employees and the full senior management of the erstwhile Wockhardt hospitals have been successfully transitioned to the new company.” Singh said. up 44% compared with the same quarter in the.000 beds and 40 hospitals two years in advance. Shivinder Mohan Singh.Wockhardt acquisition could bring in Rs 360-crore revenue for Fortis Page 2 of 4 FE Home. As is being witnessed quarter-on-quarter. We aim to achieve a profit target of Rs 100 crore in the next five years. our growth strategy is paying rich dividends not just financially but in bringing superior quality clinical care. 2010 at 0109 hrs IST Font Size Print Feedback Email Discuss Related Articles Essar Oil to double petrol pumps to 2. “The addition of the erstwhile Wockhardt family is going to create a new set of opportunities. Fortis Healthcare. Fortis Healthcare Ltd. The net profit of the company jumped 330% to touch Rs 22 crore in the third quarter of this financial year compared to the corresponding quarter of the previous fiscal. going by our track record. “After having accomplished our targets before time. Fortis Healthcare Limited has recently announced the successful completion of the Rs 909-crore acquisition of Wockhardt hospitals.. internal accruals and debt. After crossing its target of 6. he added that the company doesn’t give guidance on performance.. 2009. More from Corporates & Markets http://www. we should be able to achieve it in the next three to four years.” said Singh. 2010 at 0109 hrs IST Updated: Saturday. The third quarter revenue stood at Rs 229 crore.. we think the time has come when quantifying future goals in terms of number of beds and hospitals has lost significance for us. But. Around 3. managing director. expects that acquisition of Wockhardt will bring revenues of over Rs 360 crore per annum. The acquisition has been made under a wholly-owned subsidiary.500Satyam case: SC grants bail to PwC auditorGovt may approve Rs 8 bn infusion in Air India New Delhi: The country’s second largest hospital chain. It allows us to leverage our joint leadership position.financialexpress. However. Fortis has set a goal of achieving a profit target of Rs 100 crore in next four to five years. said that in times to come. Jan 23. when Fortis executed a binding agreement to acquire the hospitals. The deal was originally announced on August 24.com/news/Wockhardt-acquisition-could-bring-in-Rs-360..

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