Fortis Acquires People Tree Hospital, Yeshwanthpur for INR 430 Cr

Fortis plans investment of ~INR 840 Crs for 300+ beds in Bengaluru

Company acquires People Tree Hospital Yeshwanthpur for INR 430 Crs; plans to scale

up infrastructure with a further investment of ~ INR 410 Crs

Deal complements Company’s cluster focused growth strategy in Bengaluru with an

overall potential to scale up to 1500+ beds across 7 facilities over the next 3 years

Gurugram, December 20, 2025: Fortis Healthcare Limited (“FHL” or “Fortis” or the

“Company”), amongst India’s leading healthcare delivery companies, announced signing of

definitive agreements for the acquisition of the 125-bedded People Tree Hospital in

Yeshwanthpur, Bengaluru (“PTHY”) by way of a 100% acquisition of TMI Healthcare Private

Limited (“TMI Healthcare”), the entity under which the PTHY business operations reside. The

said acquisition would be undertaken by FHL’s wholly-owned subsidiary International Hospital

Limited (IHL).

As part of the composite transaction, along with the acquisition of TMI Healthcare, IHL would

also acquire the hospital building and the underlying land of PTHY from the promoters of TMI

Healthcare and an adjacent land parcel from an independent third party; for a cumulative

transaction value of INR 430 Crs (including debt residing with TMI Healthcare). The

transaction shall be subject to customary closing adjustments as agreed in the definitive

agreements.

PTHY is a leading 125-bedded multi-specialty hospital located in Yeshwanthpur, North-West

Bengaluru. It is attractively located in a dense residential catchment with expanding

commercial hubs in the vicinity and is well connected to major transportation hubs. The

hospital is NABH-accredited and offers key specialties such as Cardiac Sciences,

Orthopedics, Neuro Sciences, Renal Sciences and Gastroenterology.

The acquisition of the adjacent land parcel of ~0.8 acres provides the Company a potential to

expand bed capacity to 300+ beds. An additional investment of INR 410 Crs is planned over

the next 3 years in the facility to further augment bed infrastructure, medical equipment and

clinical programs including Radiation Oncology. Basis the current hospital revenues of approx.

INR 74 Crs (FY 25), the Company believes it has an opportunity to strengthen existing

operations; enhance revenues and profitability and simultaneously progress with the planned

investment.

The transaction is expected to be consummated by end of January 2026, subject to the

completion of certain conditions precedent as stipulated in the definitive agreements.

Dr Ashutosh Raghuvanshi, MD & CEO of the Company, said, “The acquisition is in line

with our vision to expand our footprint in focused clusters and enables us to leverage the

benefits of scale and synergies. The acquisition is a strategically important addition and will

further strengthen our position in the Bengaluru market, where we already have a significant

presence across seven facilities (including O&M facilities) with a potential to scale up to 1500+

beds from 900 beds currently. The adjacent land parcel will further strengthen the spectrum

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Press Release

December 20, 2025

of healthcare delivery offerings at this facility and enable us to deliver exceptional clinical care

ably supported by an experienced team of clinicians.”

Dr Jothi Neeraja, Founder, MD & CEO, People Tree Hospitals, said, “People Tree Hospitals

co-founded with Dr. Upendra Kandluri, has always been guided by a vision of ethical, patient

centric and high-quality care. The strategic transition to Fortis Healthcare marks a pivotal

milestone in this journey – reflecting our unwavering commitment to clinical excellence and

robust governance. With Fortis’ extensive resources and expansive clinical programs, People

Tree Hospital, Yeshwanthpur is now poised to reach new heights while upholding its founding

values, ensuring continuity, modernization and long-term benefits for both patients and

employees.”

About Fortis Healthcare Limited: Fortis Healthcare Limited is a leading integrated

healthcare delivery service provider in India. The healthcare verticals of the company primarily

comprise hospitals, diagnostics and day care specialty facilities. Currently, the company

operates 33 healthcare facilities (including JVs and O&M facilities) across 11 states. The

Company’s network comprises approximately 5,800 operational beds (including O&M beds)

and over 400 diagnostics labs.