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 issued a comprehensive postal ballot notice to shareholders seeking approval for the appointment of Mr. Mohd Shahazwan Bin Mohd Harris as Non-Independent Non-Executive Director. The healthcare company communicated these developments to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 on December 23, 2025.

Director Appointment and Board Changes

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. This appointment follows the resignation of Mr. Lim Tsin Lin from his position as Non-Executive Non-Independent Director, effective from the close of business hours on December 19, 2025.

Postal Ballot Notice and Voting Process

Fortis Healthcare issued the postal ballot notice on December 23, 2025, seeking member approval for appointing Mr. Mohd Shahazwan Bin Mohd Harris as a Non-Independent Non-Executive Director, liable to retire by rotation. This complies with SEBI Listing Regulations requirement for shareholder approval within three months of director appointment.

Professional Background and Qualifications

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 serving as Head, Strategic Investments at Employees Provident Fund (EPF), Chief International Officer at Tenaga Nasional Berhad (TNB), and various investment roles at Khazanah Nasional Berhad from 2005 to 2016, covering investments across Asia and Europe.

Nomination and Compliance Details

The company received a nomination letter dated December 10, 2025, from Northern TKV Venture Pte. Limited, nominating Mr. Shahazwan for the director position. The appointment complies with Companies Act 2013 provisions and SEBI regulations, with the company confirming that Mr. Shahazwan is not debarred from holding the office of Director by any regulatory authorities.

Voting Instructions and E-voting Facility

The company is offering comprehensive e-voting facility through KFintech platform, enabling members to vote electronically instead of physical postal ballot forms. Members holding shares as of the cut-off date December 19, 2025, are eligible to participate in the voting process through multiple access methods including NSDL, CDSL, and direct KFintech platforms.

The voting process complies with Companies Act 2013 provisions and SEBI regulations, with detailed instructions provided for both demat and physical shareholders. Results will be declared at the Corporate Office and displayed on the company website and stock exchanges, with the resolution deemed passed if requisite majority assents to the proposal.