Fortis Healthcare disclosed that NTK submitted an appeal against a Tokyo court ruling in the Daiichi Sankyo case to the Tokyo High Court on September 24, 2026.

Case background and appeal details

The appeal relates to the ongoing legal proceedings involving Daiichi Sankyo. NTK challenged the earlier Tokyo District Court ruling dated September 10, 2026, by filing a petition for appeal with the Tokyo High Court on September 24, 2026. After assessing the judgment, NTK concluded that it warrants appellate review by a higher court and exercised its right to present arguments before the Tokyo High Court.

IHH Healthcare context

IHH Healthcare Berhad, in a separate announcement on Bursa Malaysia and SGX, confirmed that NTK is an indirect wholly owned subsidiary of IHH. IHH stated that it has suffered losses arising from delays in obtaining mandatory tender offer approvals required for its acquisition of Fortis Healthcare. These delays occurred in the context of a dispute between Daiichi Sankyo and certain judgment debtors, to which IHH was not a party.

IHH emphasized that the acquisition of Fortis in 2018 was undertaken through a transparent, widely public, and fully regulated process, obtaining all necessary corporate, shareholder, and regulatory approvals, including those from the Competition Commission of India (CCI) and SEBI takeover regulations.

Strategic outlook

IHH reaffirmed its commitment to India as a key strategic market. The company plans to increase its stake in Fortis to 51% over the next three to five years. Additionally, IHH intends to further integrate its Fortis and Gleneagles platforms and expand capacity to approximately 10,000 beds by 2031 to meet India's growing healthcare needs.

Fortis Healthcare disclosed this development as part of its regulatory communication to stakeholders under Regulation 30 of SEBI Listing Regulations.

Fortis Healthcare has signed definitive agreements with Seth Sunder Lal Jain Charitable Eye Hospital (SLJ Society) to provide healthcare services for a 400+ bed super specialty hospital in Ashok Vihar, New Delhi. The transaction is executed through its wholly owned subsidiary, Fortis Hospotel Limited (FHTL).

The healthcare services agreement grants FHTL exclusive rights to provide specified inpatient services and specialized equipment, including Cath Lab, LINAC, PET-CT, and surgical robots. The committed term is 29 years, with an option to extend on mutually agreed terms.

Deal Structure

Under the arrangement, SLJ Society will own, operate, and manage the hospital infrastructure, including land and building. FHTL will provide clinical manpower and healthcare services in consideration of an agreed service fee, calculated as a percentage of the revenue generated by the hospital.

FHTL has also agreed to provide a loan of up to ₹567 crore to SLJ Society for construction, upgradation, and operation of the facility. The loan will be disbursed in phased tranches over the next 3-4 years based on construction progress. SLJ Society has created appropriate security in favor of FHTL for this loan. FHTL will receive interest on the loan as per the loan agreement.

Operational Timeline

The hospital is expected to commence operations in 3-4 years, subject to necessary approvals. It will be developed on ~3.1 acres of land in North-West Delhi. The facility will offer tertiary and quaternary care across oncology, neurosciences, cardiac sciences, gastroenterology, orthopaedics, renal sciences, multi-specialty robotic surgeries, and transplants.

What the Numbers Show

The structure shifts capital expenditure risk to the partner while securing long-term revenue visibility for Fortis. By providing a ₹567 crore loan secured against the project rather than taking equity ownership, Fortis retains asset-light characteristics while locking in a 29-year service contract. This expands its Delhi-NCR footprint to more than 3,400 beds without adding fixed assets to its balance sheet.