Fortis Healthcare to acquire Shrimann Superspecialty Hospital from Shriman Enterprises for $54m.

Fortis Healthcare, an integrated healthcare delivery service provider in India, agreed to acquire Shrimann Superspecialty Hospital, a multi-specialty hospital, from Shriman Enterprises, a partnership firm owning and operating Shrimann Superspecialty Hospital, for $54m. "We have been evaluating various acquisition opportunities to expand our presence in our existing markets and to enable us to leverage the benefits of scale and synergies. We believe this acquisition is a good strategic fit as we already have a significant presence in Punjab with ~800 beds across four facilities. The transaction will allow us to capitalize on market opportunities as we expand to more than 1,000 beds and further strengthen our market presence in the region," Ashutosh Raghuvanshi, Fortis Healthcare MD & CEO.