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Fortis Healthcare

2023-08-31T09:30:37Z

Srinjoy N:

{{Short description|Indian multinational chain of private hospitals}}
{{Multiple issues|
{{cleanup-PR|1=article|date=November 2017}}
{{COI|date=September 2021}}
}}
{{Use British English|date=March 2013}}
{{Use dmy dates|date=October 2020}}

{{Infobox company
| name = Fortis Healthcare Limited
| logo = Fortis_Healthcare_logo.svg
| type = [[Public company|Public]]
| traded_as = {{BSE|532843}}<br />{{NSE|FORTIS}}
| genre =
| fate =
| successor =
| foundation = {{start date and age|df=yes|1996}}
| defunct =
| location_city = [[Gurgaon]]
| locations =
| area_served = Worldwide
| key_people = Ravi Rajagopal {{small|(Chairman)}}<ref>{{cite news|url=https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/fortis-healthcare-appoints-dr-ashutosh-raghuvanshi-as-its-new-ceo/articleshow/67885367.cms|title=Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO|newspaper=The Economic Times|publisher=economictimes.indiatimes.com |access-date=2019-02-07}}</ref>
| industry = [[Healthcare]]
| products = [[Hospitals]], [[Pharmacy]], [[Medical diagnosis|Diagnostic centre]]s
| services =
| revenue = {{INRConvert|193585|c}} (2020)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/hospitalsmedical-services/fortishealthcare/FH|title=Fortis Healthcare Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income = {{INRConvert|4325|c}} (2020)<ref name="Financials"/>
| net_income = {{INRConvert|7889|c}} (2020)<ref name="Financials"/>
| assets =
| equity =
| num_employees = 23,000 (2020)<ref name="Financials"/>
| parent = [[IHH Healthcare]] (31.1%)
| divisions =
| subsid =
| footnotes =
| intl =
| location_country = [[India]]
| homepage = {{url|http://www.fortishealthcare.com}}
}}

'''Fortis Healthcare Limited''' ('''FHL''') is an [[India|Indian multinational]] chain of private hospitals headquartered in [[India]]. Fortis started its health care operations from [[Mohali]] where first Fortis hospital was started. Later on, the hospital chain purchased the healthcare branch of [[Escorts Group|Escorts group]] and increased its strength in various parts of the country. The Escorts Heart and research Center, Okhla,<ref>{{Cite web|url=https://www.indheal.com/hospitals/fortis-escorts|title=Fortis Escorts|url-status=live}}</ref> [[Delhi]] became a major operating unit of the chain. Dr. Tehran, the current MD of [[Medanta]] and several others have started their career from this institute.

The Fortis Memorial research Institute (FMRI) hospital at [[Gurgaon]]<ref>{{Cite web|url=https://docprime.com/fortis-memorial-research-institute-gurgaon-sector-44-hpp|title=Fortis Hospital Gurgaon has 1000 beds|website=docprime|url-status=live|access-date=2019-11-14}}</ref> is the headquarter and flagship hospital of Fortis healthcare with all the major facilities at the hospital. It was named as 23rd smart hospital in the world for the year 2021.<ref>{{Cite web |title=Fortis Memorial Research Institute bags recognition as smart hospital |url=https://www.biospectrumindia.com/news/16/18848/fortis-memorial-research-institute-bags-recognition-as-smart-hospital.html |access-date=2022-03-16 |website=www.biospectrumindia.com |language=en}}</ref> FMRI was also named as 22nd best hospital in the country for the year 2022 by Newsweek.<ref>{{Cite web |last=Newsweek |date=2022-03-02 |title=World's Best Hospitals 2022 - India |url=https://www.newsweek.com/worlds-best-hospitals-2022/india |access-date=2022-03-16 |website=Newsweek |language=en}}</ref>

Apart from [https://www.clinicspots.com/hospital/fortis-escorts-and-heart-institute Fortis Escorts Okhla], & [https://www.clinicspots.com/hospital/fortis-memorial-research-institute FMRI], Fortis healthcare has other units in Delhi NCR as well which includes Fortis Hospital [[Faridabad]], [[Noida]], [[Vasant Kunj]], [[Shalimar Bagh (Delhi)]] and at several other places in the country. Currently, the company operates its healthcare delivery services in India, [[Dubai]] and [[Sri Lanka]] with 36 healthcare facilities.<ref>{{Cite web|url=https://www.fortishealthcare.com/about-us|title=Fortis Healthcare – About Us|url-status=live}}</ref><ref>{{Cite web|url=https://www.zaubacorp.com/company/FORTIS-HEALTHCARE-LIMITED/L85110PB1996PLC045933|title=FORTIS HEALTHCARE LIMITED - Company, directors and contact details | Zauba Corp}}</ref>

Malaysia's [[IHH Healthcare]] became the controlling shareholder of Fortis Healthcare Ltd by acquiring a 31.1% stake in the company. Fortis Healthcare also appointed four persons from IHH Healthcare to its board in a meeting held at Mohali. The board approved the allotment of over 230 million shares through preferential issue to Northern TK Venture Pte Ltd, a wholly owned indirect subsidiary of IHH Healthcare, at ₹170 per share of ₹10 face value.<ref>{{cite news| url=https://www.livemint.com/Companies/n5hz8EnQh6C9rcD5JvVZYM/IHH-acquires-controlling-311-stake-in-Fortis-for-Rs-4000.html | title=IHH Healthcare completes Fortis deal by acquiring 31% stake | date=14 Nov 2018|newspaper=[[Live Mint]]}}</ref><ref>{{cite news|title=Fortis Hospital Noida |url=https://www.credihealth.com/hospital/fortis-hospital-noida/doctors|date=26 March 2019 |work=Full Details Information}}</ref>

== Other information ==
In 2018, Manipal Hospitals and [[TPG Capital]] acquired Fortis Healthcare Limited as part of a deal for {{INR}} 39,000 million.<ref>{{cite news |title=Fortis Healthcare Ltd. |url=https://www.business-standard.com/company/fortis-health-24049/information/company-history |newspaper=Business Standard India}}</ref><ref>{{cite web |last1=Sen |first1=Amiti |title=Manipal Hospitals buys Fortis hospitals biz |url=https://www.thehindubusinessline.com/companies/manipal-hospitals-buys-fortis-hospitals-biz/article23370334.ece |website=@businessline |language=en}}</ref><ref>{{cite web |title=TPG-backed Manipal acquires Fortis Health, SRL Diagnostics – Times of India ► |url=https://timesofindia.indiatimes.com/business/india-business/tpg-backed-manipal-acquires-fortis-health-srl-diagnostics/articleshow/63495248.cms |website=The Times of India}}</ref> In 2019, Fortis Healthcare announced that it had completed the acquisition of RHT Health Trust (RHT) assets for an enterprise value of {{INR}} 46,500 million.<ref>{{cite news|url=https://business.medicaldialogues.in/fortis-completes-acquisition-of-rht-assets-at-enterprise-value-of-rs-4650-crore/|title= Fortis completes acquisition of RHT assets at enterprise value of Rs 4650 crore|date=17 January 2019|work=Medical Dialogues}}</ref><ref>{{cite news|url=https://www.credihealth.com/hospital/fortis-memorial-research-institute-gurgaon/overview|title= Fortis Hospital Gurgaon|date=25 March 2019|work= Full Details Information}}</ref> In the same financial year, Fortis reported a consolidated net profit of {{INR}} 780.10 million for the quarter ended 30 June.<ref>{{cite news|url=https://business.medicaldialogues.in/fortis-healthcare-reports-profit-of-rs-78-crore-for-june-quarter/|title= Fortis Healthcare reports profit of Rs 78 crore for June quarter|date=7 August 2019|work=Medical Dialogues}}</ref>

Fortis is also a component of the S&P BSE 500.

==See also==
* [[Healthcare in India]]
* [[Manipal Hospitals India]]
* [[Medanta]]

== References ==
{{Reflist}}

== External links ==
* {{Official website|http://www.fortishealthcare.com/}}

{{Nifty 200 companies}}
{{Authority control}}

{{coord missing|Delhi}}

[[Category:Hospitals in Haryana]]
[[Category:Hospital networks in India]]
[[Category:2018 mergers and acquisitions]]
[[Category:Hospitals in Chennai]]
[[Category:1996 establishments in Tamil Nadu]]
[[Category:Indian companies established in 1996]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

{{India-company-stub}}

Medical tourism in India

2023-08-31T09:23:34Z

Srinjoy N: I have attached some links which will make the content richer and more complete

{{Use Indian English|date=November 2015}}

[[Medical tourism]] is a growing sector in [[India]]. In mid–2020, India's medical tourism sector was estimated to be worth US$ 5–6 billion.<ref>{{cite news |title=Medical tourism companies turn to telemedicine in wake of Covid-19 |url=https://www.hindustantimes.com/cities/medical-tourism-companies-turn-to-telemedicine-in-wake-of-covid-19/story-YA0OpXnbjgmvZfsRoHObRP.html |newspaper=Hindustan Times |access-date=July 10, 2020}}</ref> In 2017, 495,056 patients visited India to seek medical care. According to a report from 2019 by the [[Federation of Indian Chambers of Commerce and Industry]] and [[Ernst & Young]], most of the medical tourist arrivals in India were from Southeast Asia, Middle East, Africa, and [[SAARC]] region.<ref name="healthindiatimes"/> India also receives significant number of medical tourists from Australia, Canada, China, Russia, the United Kingdom, and the United States.<ref name="Katz">{{cite web |title=India emerges as new destination for Russian medical tourists |first=Alexandra |last=Katz |date=April 16, 2015 |access-date=February 12, 2020 |url=https://www.rbth.com/society/2015/04/16/india_emerges_as_new_destination_for_russian_medical_tourists_42649}}</ref> The city of [[Chennai]] has come to known as the healthcare capital of India.

To encourage applications and ease the travel process for medical tourists, the government has expanded its e-tourism VISA regime on February 2019, to include medical visas. The maximum duration of stay under this visa is 6 months.<ref>{{Cite news|url=https://economictimes.indiatimes.com/nri/visa-and-immigration/centre-liberalises-e-visa-regime-to-make-it-more-tourist-friendly/articleshow/68012533.cms?from=mdr|title=Centre liberalises e-Visa regime to make it more tourist friendly|date=2019-02-15|work=The Economic Times|access-date=2019-03-14}}</ref> Since 30 August 2019, foreigners can receive any medical treatment in India with the exception of organ transplants without a medical visa.<ref name="healthindiatimes">{{cite news |title=Is India doing enough to carve a niche in medical tourism? |url=https://health.economictimes.indiatimes.com/news/industry/is-india-doing-enough-to-carve-a-niche-in-medical-tourism/72144365 |first=Rashmi |last=Mabiyan |newspaper=The Economic Times |date=November 20, 2019 |access-date=July 10, 2020}}</ref>

== Attractions ==
Advantages of medical treatment in India include reduced costs, the availability of latest medical technologies,<ref>{{cite web|url=http://www.hindu.com/mp/2009/08/06/stories/2009080651130300.htm |archive-url=https://web.archive.org/web/20130610103949/http://www.hindu.com/mp/2009/08/06/stories/2009080651130300.htm |url-status=dead |archive-date=2013-06-10 |title=Reason to smile |work=[[The Hindu]] |date=2011-10-24}}</ref> and compliance on international quality standards, doctors trained in western countries including the United States and the United Kingdom, as well as English-speaking personnel, due to which foreigners are less likely to face language barrier in India.

==Advantages==
===Cost===
[[File:Hinduja Hospital, Mahim, Mumbai.jpg|thumb|[[Hinduja National Hospital|Hinduja National Hospital, Mumbai]]]]
Most estimates found that treatment costs in India start at around one-tenth of the price of comparable treatment in the United States or the United Kingdom.<ref>[http://english.aljazeera.net/NR/exeres/004054B8-F475-4C40-872D-5E0D91D25B12.htm "Indian medical care goes global"], Aljazeera.Net, June 18, 2006 Nov 11, 2006</ref><ref name="Goering March 28, 2008">Laurie Goering, [http://www.chicagotribune.com/news/chi-medical-tourism_goeringmar28,0,4555735.story "For big surgery, Delhi is dealing,"] The [[Chicago Tribune]], March 28, 2008</ref> The most popular treatments sought in India by medical tourists are alternative medicine, [https://www.clinicspots.com/blog/bone-marrow-transplant-in-india bone-marrow transplant], cardiac bypass, eye surgery, and [https://www.clinicspots.com/hip-replacement/india hip replacement].

===Quality of care===
India has 39 JCI [https://www.medflyy.com/best-hospitals-in-india/ accredited hospitals].<ref>{{Cite web |url=http://www.jointcommissioninternational.org/jci-accredited-organizations/ |title=Archived copy |access-date=2013-09-05 |archive-url=https://www.webcitation.org/69sdmHwPX?url=http://www.jointcommissioninternational.org/JCI-Accredited-Organizations/ |archive-date=2012-08-13 |url-status=dead }}</ref> However, for a patient traveling to India, it is important to find the optimal doctor-hospital combination. After the patient has been treated, the patient has the option of either recuperating in the hospital or at a paid accommodation nearby. Many hospitals also give the option of continuing the treatment through [[telemedicine]].

The city of [[Chennai]] has been termed "[[Healthcare in Chennai|India's health capital]]".<ref name="MedicalCapitalsPlaceInHistory">{{cite news| last = Hamid| first = Zubeda| title = The medical capital's place in history| newspaper = The Hindu| location = Chennai| date = 20 August 2012| url = http://www.thehindu.com/news/cities/chennai/article3796305.ece| access-date = 15 Sep 2012}}</ref><ref name="Health capital" /><ref name="CityGetsMostForeignTourists">{{cite news| title = Chennai High: City gets most foreign tourists | location = Chennai| date = 27 August 2010| url = http://articles.timesofindia.indiatimes.com/2010-08-27/chennai/28314945_1_tourist-arrivals-foreign-tourists-tamil-nadu-tourism-development | archive-url = https://web.archive.org/web/20121104021442/http://articles.timesofindia.indiatimes.com/2010-08-27/chennai/28314945_1_tourist-arrivals-foreign-tourists-tamil-nadu-tourism-development | url-status = dead | archive-date = 4 November 2012 | newspaper = [[The Times of India]] | access-date = 11 Sep 2012}}</ref><ref>{{cite web| title = சென்னை இந்தியாவின் மருத்துவ தலைநகரா?| work = BBC Tamil| publisher = BBC| date = 12 April 2012| url = http://www.bbc.com/tamil/india/2012/04/120412_tnhealth.shtml| access-date = 15 Sep 2012}}</ref> Multi- and [https://www.clinicspots.com/hospitals/chennai super-specialty hospitals]<ref>https://www.clinicspots.com/hospitals/chennai</ref> across the city bring in an estimated 150 international patients every day.<ref name="MedicalCapitalsPlaceInHistory" /> Chennai attracts about 45 percent of health tourists from abroad arriving in the country and 30 to 40 percent of domestic health tourists.<ref name="Health capital">{{cite web| last = National Accreditation Board for Hospitals & Healthcare Providers| title = Chennai – India's Health Capital| publisher = India Health Visit| url = http://www.indiahealthvisit.com/chennai-health-capital.htm| access-date = 1 Sep 2012}}</ref> Factors behind the tourists inflow in the city include low costs, little to no waiting period,<ref>{{cite news| last = Porecha| first = Maitri| title = Long wait makes patients head south | newspaper = Daily News & Analysis| location = Mumbai| publisher = DNAIndia.com| date = 8 August 2012| url = http://www.dnaindia.com/mumbai/report_long-wait-makes-patients-head-south_1725254 | access-date = 15 Sep 2012}}</ref> and facilities offered at the specialty hospitals in the city.<ref name="MedicalCapitalsPlaceInHistory" /> The city has an estimated 12,500 hospital beds, of which only half is used by the city's population with the rest being shared by patients from other states of the country and foreigners.<ref name="CityToGet3000MoreBeds">{{cite news| title = Country's med capital to get 3,000 more beds| location = Chennai| date = 16 July 2011 | url = http://articles.timesofindia.indiatimes.com/2011-07-16/chennai/29781077_1_global-hospitals-bed-strength-nj-gowrishankar | archive-url = https://web.archive.org/web/20130429200224/http://articles.timesofindia.indiatimes.com/2011-07-16/chennai/29781077_1_global-hospitals-bed-strength-nj-gowrishankar | url-status = dead | archive-date = 29 April 2013 | newspaper = [[The Times of India]]| access-date = 16 Sep 2012}}</ref> Dental clinics have attracted dental care tourism to Chennai.<ref>{{cite news| last = Rajan| first = Manoj| title = Foreigners flock to city for dental care| newspaper = [[The Times of India]]| location = Chennai| publisher = [[The Times of India]]| date = 4 October 2011| url = http://articles.timesofindia.indiatimes.com/2011-10-24/chennai/30315929_1_dental-implants-treatment-teeth| archive-url = https://web.archive.org/web/20131226154607/http://articles.timesofindia.indiatimes.com/2011-10-24/chennai/30315929_1_dental-implants-treatment-teeth| url-status = dead| archive-date = 26 December 2013| access-date = 2 Jan 2013}}</ref>

Private institutions and organisations such as [[Max Healthcare]] have consulted and treated up to 50,000 foreign patients in hospitals across the country.

The promotion of medical tourism in India has helped private players capitalize on this market opportunity.<ref name="CNN">{{Cite web|url=https://www.cnn.com/2019/02/13/health/india-medical-tourism-industry-intl/index.html|title=India wants to make medical tourism a $9 billion industry by 2020|author=Manveena Suri|website=CNN|date=14 February 2019|access-date=2019-03-15}}</ref>

According to Darpan Jain, Joint Secretary of the Indian government's Department of Commerce, Ministry of Commerce & Industry:
{{quote|The strength of India lies in the skills of our doctors, support staff, calibre of our nurses and the state–of–the art infrastructure which has come up in the last few years, some of which are still not available even in very developed economies.<ref name="healthindiatimes"/>}}

===Ease of travel===
The government has removed visa restrictions on tourist visas that required a two-month gap between consecutive visits for people from Gulf countries which is likely to boost medical tourism.<ref>{{cite web|url=http://articles.timesofindia.indiatimes.com/2012-12-05/chennai/35619712_1_visa-norms-tourist-visas-medical-tourism|archive-url=https://archive.today/20130411033957/http://articles.timesofindia.indiatimes.com/2012-12-05/chennai/35619712_1_visa-norms-tourist-visas-medical-tourism|url-status=dead|archive-date=2013-04-11|title=Easing of visa norms to boost medical tourism |work=[[The Times of India]] |date=2012-12-05}}</ref> A visa-on-arrival scheme for tourists from select countries has been instituted which allows foreign nationals to stay in India for 30 days for medical reasons.<ref>{{cite web|url=http://immigrationindia.nic.in/visa_on_arrival2.htm|title=Visa-on-arrival |publisher=immigrationindia.nic.in |date=2012-12-05}}</ref> In 2016, citizens of Bangladesh, Afghanistan, Maldives, Republic of Korea and Nigeria availed the most medical visas.<ref>{{cite web|title=Medical tourism to keep pharma industry in good health: Study|url=http://www.dnaindia.com/academy/report-medical-tourism-to-keep-pharma-industry-in-good-health-study-2329151|website=dna|access-date=20 February 2017|date=20 February 2017}}</ref>

===Language===
Despite India's diversity of languages, English is an official language and is widely spoken by most people and almost universally by medical professionals. In [[Noida]], a number of hospitals have hired language translators to make patients from Balkan and African countries feel more comfortable while at the same time helping in the facilitation of their treatment.<ref>{{cite web|url=http://articles.timesofindia.indiatimes.com/2013-01-24/noida/36525978_1_medical-tourism-patients-medical-translators|archive-url=https://archive.today/20130411060557/http://articles.timesofindia.indiatimes.com/2013-01-24/noida/36525978_1_medical-tourism-patients-medical-translators|url-status=dead|archive-date=2013-04-11|title=Medical translators to aid foreign patients|work=[[The Times of India]] |date=2013-01-24}}</ref>

A large number of medical tourism companies are facilitating foreigners, especially patients from Arabic-, Russian-, English-, and Bangla-speaking countries.{{citation needed|date=December 2019}}

==Statistics==
In November 2019, a report from [[The Economic Times]] stated that of all medical tourist arrivals in India, Maharashtra receives 27%, Chennai receives around 15%, and Kerala receives nearly 5–7% of them.<ref name="healthindiatimes"/>

===Russia===
[[Russia Beyond]] notes that of the estimated 300,000 Russian medical tourists who travel worldwide every year for healthcare, India receives over 250,000 of them.<ref name="Katz"/>

==Meditourism hubs==

[[Bengaluru]], [[Chandigarh Capital Region]] (CCR) tricity, [[Healthcare in Chennai|Chennai]], [[National Capital Region (India)|Delhi NCR including [[Gurugram]] and [[Faridabad]], [[Jaipur]], [[Kerala]], [[Kolkata]], [[Mumbai]], etc.

[[Hisar Airport#Medicity|Hisar Medicity]] is an upcoming hub, which was under planning and construction in 2021. for the seamless connectivity. Spice Jet has signed an agreement to set up flight training centre to train pilots in the batches of 100 pilots.<ref name=arj1>[https://www.amarujala.com/haryana/hisar/airport-3300-meters-runway-to-be-ready-by-may-2022-hisar-news-hsr6063738195 एयरपोर्ट: मई 2022 तक तैयार होगा 3300 मीटर का रनवे], Amar Ujala, 18 Jul 2021.</ref>

==See also==
* [[Medical tourism provider]]

==Further reading==
*{{cite journal |journal=Russian Journal of Linguistics |volume=21 |issue=3 |year=2017 |issn=2686-8024 |pages=515–529 |doi=10.22363/2312-9182-2017-21-3-515-529 |title=The role of the Russian language in India's Healthcare Sector |url=http://journals.rudn.ru/linguistics/article/view/16789 |via=[[Peoples' Friendship University of Russia]] |place=Moscow |last=Suryanarayan |first=N.|doi-access=free }}
*{{cite web |title=How Technology Is Changing Health Care in India |url=https://knowledge.wharton.upenn.edu/article/technology-changing-health-care-india/ |work=[[Wharton School of the University of Pennsylvania]]}}

==References==
{{Reflist}}

[[Category:Medical tourism by destination country|India]]
[[Category:Tourism in India]]