Fortis Healthcare Limited has informed the Exchange about Operation And Maintenance Services Agreement With Gleneagles Healthcare India Private Limited
FORTIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Fortis Healthcare has signed an Operation and Maintenance (O&M) services agreement with Gleneagles Healthcare India Private Limited (GHIPL) to run 5 hospitals and 1 clinic in India. Fortis will earn a monthly service fee of 3% of the net revenue of these hospitals. The hospitals generated combined revenue of INR 718.5 Cr in FY25, compared to Fortis's consolidated revenue of INR 7,782.8 Cr. GHIPL is a related party, as it is a subsidiary of IHH Healthcare Berhad, which also controls Fortis's promoter Northern TK Venture Pte Limited. The deal is priced on an arm's length basis, certified by an independent financial advisor. The company expects this to expand its geographical footprint, add beds under management, and bring in incremental fee-based revenue.
This is a related-party deal that adds fee-based service income without major capital outlay, modestly boosting revenue and bed count. It signals tighter operational integration within the IHH Healthcare group but is unlikely to move the stock sharply on its own.