Fortis Healthcare has announced a comprehensive ₹840 crore investment plan for its Bengaluru operations, combining the acquisition of PeopleTree Hospital Yeshwanthpur with significant expansion plans. The company's wholly-owned subsidiary, International Hospital Limited, signed definitive agreements for this strategic initiative that aligns with Fortis's cluster-focused growth strategy.

Acquisition and Investment Details

The transaction involves acquiring TMI Healthcare Private Limited, which operates the 125-bedded PeopleTree Hospital Yeshwanthpur, along with plans for substantial infrastructure development:

Strategic Hospital Asset

PeopleTree Hospital Yeshwanthpur represents a strategically located healthcare facility in North-West Bengaluru. The NABH-accredited multi-specialty hospital is positioned in a dense residential catchment area with expanding commercial hubs and excellent connectivity to major transportation networks.

Hospital Specialties and Performance

The facility offers key medical specialties including Cardiac Sciences, Orthopedics, NeuroSciences, Renal Sciences, and Gastroenterology. Based on current hospital revenues of approximately ₹74.00 crores, Fortis believes there are significant opportunities to strengthen existing operations and enhance profitability.

Expansion and Infrastructure Development

The acquisition includes an adjacent land parcel of 0.80 acres, providing substantial expansion potential. The planned ₹410 crore investment over the next three years will focus on augmenting bed infrastructure, advanced medical equipment, and enhanced clinical programs including Radiation Oncology services.

Bengaluru Market Strategy

This acquisition strengthens Fortis Healthcare's position in the Bengaluru market, where the company already operates seven facilities with potential to scale up to 1,500 beds from the current 900 beds. Dr. Ashutosh Raghuvanshi, MD & CEO, emphasized that the acquisition enables the company to leverage benefits of scale and synergies while expanding their footprint in focused clusters.

Leadership Perspectives

Dr. Jothi Neeraja, Founder and MD & CEO of PeopleTree Hospitals, highlighted that the strategic transition to Fortis Healthcare marks a pivotal milestone reflecting their commitment to clinical excellence and robust governance. The partnership is expected to ensure continuity, modernization, and long-term benefits for both patients and employees while upholding the hospital's founding values of ethical, patient-centric, and high-quality care.

Fortis Healthcare Limited has announced changes to its Board of Directors composition, with one new appointment and one resignation taking effect on December 19, 2025. The healthcare company communicated these developments to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

New Director Appointment

The Board of Directors approved the appointment of Mr. Mohd Shahazwan Bin Mohd Harris as Additional Director (Non-Executive Non-Independent) through a circular resolution passed on December 19, 2025. The appointment became effective from December 19, 2025, at 09:01 AM (IST), following the recommendation of the company's Nomination and Remuneration Committee.

Professional Background

Mr. Shahazwan brings extensive experience to the Board, with over 25 years in investments, mergers and acquisitions, portfolio and asset management, corporate strategy, and restructuring. He currently serves as Advisor, Special Projects in UEM Group and was appointed to the Board of IHH Healthcare Berhad in March 2023.

His career highlights include:

• Head, Strategic Investments at Employees Provident Fund (EPF), overseeing investments in key portfolio companies and leading active stewardship initiatives
• Chief International Officer at Tenaga Nasional Berhad (TNB), leading international business operations and pivoting focus toward renewables and new energy opportunities
• Investment roles at Khazanah Nasional Berhad from 2005 to 2016, covering investments across Asia and Europe
• Advisory positions at Bain & Co. (Kuala Lumpur/Southeast Asia) and Temasek International Advisory (Singapore)

Director Resignation

Concurrently, Mr. Lim Tsin Lin resigned from his position as Non-Executive Non-Independent Director, effective from the close of business hours on December 19, 2025, at 01:23 PM (IST). In his resignation letter, he cited other commitments and responsibilities as the reason for his departure.

Board Relationships and Compliance

The company disclosed that Mr. Shahazwan is not related to any existing Directors of the company. However, several current Board members including Dr. Prem Kumar Nair, Mr. Dilip Kadambi, Mr. Ashok Pandit, and Dr. Keith Hsiu Chin Lim serve as nominee directors of Northern TKV Venture Pte. Ltd.

Fortis Healthcare confirmed that Mr. Shahazwan is not debarred from holding the office of Director by any order passed by SEBI or other regulatory authorities. All regulatory disclosures have been made in compliance with SEBI listing regulations and relevant master circulars.