Fortis Healthcare Ltd.

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History of Fortis Healthcare Ltd.


-Fortis inks deal with Jessa Ram Hospital to takeover the management of hospital


-Fortis Hospital rolls out Golden Age Club

-Fortis buys Escorts Heart

-Fortis Healthcare signs $33.33m pre-IPO deals

The Comp. was incorporated on February 28, 1996 as Rancare Limited under the Companies Act. Subsequently on June 20, 1996 our name was changed to our present name-Fortis Healthcare Limited. The Comp. received the certificate of commencement of business on July 1, 1996.

Changes in Registered Office:


The registered office of Comp. was initially situated at 25, Nehru Place, New Delhi 110 019, India. Pursuant to a Board resolution dated September 16, 2003 the registered office was shifted to B- 9, Maharani Bagh, New Delhi 110 065, India. Subsequently, pursuant to Board resolution dated February 10, 2006 the registered office of Comp. was shifted to Piccadily House, 275- 276, 4th Floor, Captain Gaur Marg, Srinivas Puri, New Delhi 110 065, India, which is the current Registered Office.

Scheme of merger/amalgamation between Fortis Medical Centre Holdings Limited & the Comp. dated October 7, 2005:

The High Court of Delhi, through its order dated October 7, 2005 in respect of the Comp. petition [C.P. No: 240/2005 & 241/2005s] approved the scheme of amalgamation/merger between the Comp. & Fortis Medical Centre Holdings Limited ['FMCHL's], & which at the time of amalgamation was our board controlled subsidiary, with effect from April 1, 2004 ['Scheme's].

Salient features of Scheme:

The principal terms of Scheme, as sanctioned by High Court of Delhi, are set forth below: The entire undertaking & business, all properties, tangible and intangible assets including trademarks, patents, design, copyrights, investments, approvals, licenses, tax benefits, pending projects, debts, liabilities and obligations, including income tax liabilities accrued or to accrue in FMCHL was transferred to the Comp. with effect from April 1, 2004. Pursuant to the Scheme, Fortis Hospital, Amritsar was transferred to the Company. However, the transfer of aforesaid was subject to the existing charges or hypothecation in respect of assets of FMCHL.

All the staff, workmen & employees of FMCHL in employment on the date immediately preceding December 23, 2005 [i.e., the date on which a certified copy of the order of High Court of Delhi was filed with the RoCs] became the employees of Comp. without any break or discontinuity in service & on conditions not less favourable than those subsisting at FMCHL.

In consideration of transfer & vesting of undertaking & the assets & liabilities of FMCHL & in consideration of mutual covenants agreed to in the Scheme, the Comp. agreed to allot the Equity Shares to the existing shareholders of FMCHL, in the ratio of 1:4 [i.e., one Equity Share in exchange of every four equity shares of FMCHL of Rs. 10 eachs].

In compliance with the Scheme, the Comp. allotted 520,000 Equity Shares to the shareholders of erstwhile FMCHL on February 10, 2006.

Major Events:

Year Event

June 2001 Commissioning of Fortis Hospital, Mohali. August 2003 Inauguration & commissioning of Fortis Hospital, Amritsar. October 2003 Executed an agreement with Seth Jessa Ram & Bros Charitable Hospital Trust for operation & management of Jessa Ram Hospital, New Delhi. August 200 Commissioning of Fortis Hospital, Noida. September 2005 Acquired 90% of equity share capital of Escorts Heart Institute & Research Centre Limited resulting in the acquisition of EHCL, EHSSIL, EHSSHL & EHRCL. October 2005 Signed an agreement with Jeewan Mala Hospital Private Limited for the operation & maintenance of Jeewan Mala Hospital, New Delhi. January 2006 Signed an agreement with Sunrise Medicare Private Limited for operation & management of Fortis La Femme, New Delhi, & acquisition of 5% equity interest in Sunrise Medicare Private Limited, with an option to acquire additional equity shares. January 2006 Signed an agreement with Khalil Public Welfare Trust for operation & maintenance of Khyber Medical Institute, Srinagar. March 2006 Acquired 99.99% of paid up equity share capital of International Hospital Limited resulting in the acquisition of Fortis Hospital, Noida. March 2006 Acquired 100.00% of paid up equity share capital of Oscar Bio-Tech Private Limited.


-Fortis HealthWorld has joined hands with US hearing aid maker Starkey for its Audible range & is looking to soon offer dental services at its Health stores too.

-Colgate-Palmolive India, the market leader in toothpaste in India, declared the acquisition of three domestic companies in south India recently. The Comp. purchased 75 per cent equity in Advanced Oral Care Products [Goas], Professional Oral Care Products [Goas] & SS Oral Hygiene Products [Hyderabads].


-Fortis Healthcare Ltd has informed that the Board of Directors of Comp. at its meeting held on January 23, 2008, inter alia, has approved change in registered office of Comp. from 'Piccadily House, 275-276, 4th Floor, Captain Gaur Marg, Srinivas Puri, New Delhi - 110065' to 'Escorts Health Institute And Research Centre, Okhla Road, New Delhi - 110025'.

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