Fortis acquires Gurugram-based Medeor Hospital for Rs.225-Cr

Publicly listed Fortis Healthcare Ltd is to acquire Medeor Hospital based in Manesar, Gurugram (from its current owners, the VPS Group) for INR 225 crore. The hospital has a potential capacity of 350 beds and can be operationalized within 9 months. The transaction entails the purchase of land, building and movable assets of Medeor Hospital and will be funded through a mix of debt and internal accruals. Saraf and Partners acted as legal advisors and MediConsult Capital acted as transaction advisors on the deal.