Fortis Healthcare aims to focus on plans to raise money for Fund
“In the year 2021-22, we will focus on fundraising, including building our rights to water reserves, connecting with corporate clients, strengthening social networks and using our digital platforms,” said Fortis Healthcare Chairman Ravi Rajagopal.
Fortis Healthcare plans to launch a variety of initiatives such as engaging large corporate clients, using digital platforms, developing cancer care, neuro and kidney science skills, improving marks, and growing revenue, according to the company’s 2020-21 Annual Report. The health officer is also looking to bring new technology to its SRL diagnostic arm.
Introducing the company’s shareholders, he said the health care provider would strengthen his key skills such as cardiology, neurology, oncology, nephrology, orthopaedics and pulmonology by developing technologies and renowned boarding nurses.
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“We will proceed to invest in oncology, neurosciences, gastro sciences and renal sciences to improve margins,” Rajagopal stated.
At SRL, the company will focus on continuing to invest in new technologies and new diagnostic solutions that will empower physicians and enable them to work together in real-time, he added.
For the 2020-21 financial year, Fortis Healthcare’s total revenue from operations stood at Rs 4,030 crore compared to Rs 4,632 crore in 2019-20.
Rajagopal remarked that more than 33,000 COVID-19 patients were happily handled at Fortis facilities beyond the country last year.
“More further than 1.18 lakh patients are being treated in clinics / OPDs (in the outpatient departments), also our partners, SRL Diagnostics, have shown approximately 2.5 million COVID-19 cellular and serology tests,” he added.
During the outbreak, the company kept 1,600 beds for COVID-19 patients, Rajagopal told shareholders.
Currently, 23 Fortis hospitals are partnering with the government in a nationwide vaccination campaign, he added.
With the renaming of the company, Rajagopal said: “The Board, at the behest of the Supreme Court, has demanded that the name and company name of the hospital and its subsidiaries be changed to ‘Parkway’, the popular name of IHH Healthcare Berhad. Legal approval will be sought in due course.”
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The company is also considering SRL name changes, he added.
“Regarding the open submission from IHH Berhard, the matter is a jury due to a Supreme Court order. However, the hearing has previously been completed.
Malaysian company IHH Healthcare acquired a 31 per cent control over Fortis in 2018, leading to an approved offer to acquire another 26 per cent of Fortis shares in the market.
The available offering did not proceed due to ongoing legal proceedings regarding the pending transaction before the Supreme Court.
Fortis, the company IHH Healthcare Berhad, is one of the largest health care organizations in the country, with 36 health facilities (including developing projects), 4,000 working beds and more than 400 diagnostic centres.
A health care provider is present in India, the United Arab Emirates (UAE) and Sri Lanka.
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