Fortis eyes Chennai’s Lifeline Hospital
After Malar, Fortis eyes Chennai’s Lifeline
Fortis has set its sight on the 450-bed Lifeline Hospital chain in Chennai. The Delhi-based healthcare major is believed to have made an offer to acquire the hospital chain promoted by Dr JS Rajkumar.
The Lifeline Hospital chain now has 450 beds and 30-plus corporate clinics. It has 1,000 employees on its rolls. With a turnover of less than Rs 20 crore in March 2007, Lifeline’s enterprise value is pegged between Rs 200 and Rs 300 crore. It is eyeing a turnover of more than Rs 40 crore this year.
With about 2.5 lakh sq ft space available across its four hospitals in the city, the hospital chain, which started as a 20-bed venture with 25-people in 1997, has been rapidly pursuing expansion plans.
It has a major 225-bed facility at Perungudi in the city’s IT corridor. Recently, it entered into a 10-year lease agreement with the Bharathirajaa Speciality Hospital and Research Centre, located at T Nagar, a major commercial hub. This pact will scale up the bed strength of Lifeline by 40 more.
