One of the healthcare stocks is a leading integrated healthcare services provider in India, offering a full spectrum of medical services from clinics to quaternary care facilities. The stock is in focus after acquiring a 23.91 percent stake in Agilus Diagnostics from two private equity investors
Stock Price Movement
In Friday’s trading session, Fortis Healthcare Limited’s share jumped to an intraday high of 1.34 percent from the previous close of Rs. 663.10. The stock opened at Rs. 672.60 and is currently trading at Rs. 653.35, with a high of Rs. 672.60 and a low of Rs. 652.50. The market capitalization now stands at approximately Rs. 49,325.19 crore.
What Happened
Fortis Healthcare is buying a 23.91% stake in its subsidiary, Agilus Diagnostics, from two private equity investors, NYLIM Jacob Ballas India Fund III (NJBIF) and Resurgence PE Investments. This includes purchasing 1.24 crore shares from NYLIM Jacob Ballas India Fund III (NJBIF) and 63 lakh shares from Resurgence PE Investments.
Earlier, Fortis Healthcare also bought a 7.61% stake from the International Finance Corporation (IFC). After these acquisitions, Fortis will own 89.2% of Agilus Diagnostics.
The newly owned subsidiary generated Rs. 858.81 crore in standalone revenue and Rs. 1372.04 crore in consolidated revenue for FY 2023-24, and is a leading diagnostics service provider with nationwide and international operations. The deal will be completed by January 20, 2025.
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Healthcare Services Offering
The company offers comprehensive services, including advanced cardiac, oncology, orthopedic, and neurological care, along with specialized centers for various fields. It provides diagnostic services through SRL Limited, emergency care, telemedicine, and ancillary services like physiotherapy and nutrition counseling.
Recent quarter results
Fortis Healthcare Limited’s revenue has increased from Rs. 1,770 crore in Q2 FY24 to Rs. 1,988 crore in Q2 FY25, which has grown by 12.31 percent. The net profit has also grown by 4.89 percent, from Rs. 184 crore in Q2 FY24 to Rs. 193 crore in Q2 FY25.
Business Operations
Fortis Healthcare is a major healthcare provider in India, with 28 facilities and over 4,650 beds. It employs more than 23,000 people, including 6,700 doctors and 6,500 nurses. This
strong workforce and extensive infrastructure enable Fortis to deliver comprehensive healthcare services, solidifying its position as a leading healthcare provider in the region.
Written By – Nikhil Naik
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