DLF, Fortis To Put In Rs 3,000cr For 15 Hospitals

DLF and Ranbaxy promoter group company Fortis Healthcare have signed an agreement to commission 15 hospitals at an investment of Rs 3,000 crore. DLF and Fortis have signed an alliance agreement to develop about 15 ''Centre of Excellence'' hospitals in townships being developed by DLF in the first five years, industry sources said.

Under the agreement, the two companies could form a joint venture for the hospital projects. The healthcare firm may hold 74% stake, while the rest would lie with the realty major.The hospitals are likely to be of 250-400 bed capacity with a minimum built up area of 20,000 sq mt, the sources added.The sources, however, said while investment in the first phase could be minimal, it could be to the tune of Rs 200 crore per hospital in the second phase.Fortis, at present, has 12 running hospitals with several more already in the pipeline. The company recently announced its plan to invest Rs 1,800 crore for pan-India expansion, including setting up a medicity in Gurgaon and 28 hospitals by 2010.