Fortis Healthcare aims to focus on revenue growth
As per the company’s Annual Report 2020-21, the company aims to engage with key corporate clients, leverage digital platforms and developing their cancer care, neuro, and renal sciences to develop their margin and revenue growth. The company also wants to bring in the latest technology in its diagnostics arm SRL.
Chairman Ravi Rajgopal informed the country and the shareholders that the focus for this fiscal would be revenue growth, connecting to the community to be strengthened, developing in catchment areas, engaging in corporate clients, and leveraging their digital platform.
The company would be upgrading their equipment as well as personnel in the fields – cardiology, neurology, oncology, nephrology, orthopaedics, and pulmonology.
The chairman added that they would continue to invest in oncology, gastro sciences, renal sciences, and neurosciences to improve their marginal growth.
The company would continue to invest in SRL diagnostics by introducing the latest technologies involved so that they can collaborate on a real-time basis.
In the fiscal year 2020-21, the consolidated revenue stood at Rs. 4,030 crores compared to the Rs. 4,632 crores of the previous fiscal 2019-20.
The Fortis healthcare facilities have treated over 33,000 covid patients successfully. The chairman said that over 1.18 lakh patients were treated in the flu/OPD clinics, with over 2.5 million covid-19 molecular and serology tests by the SRL diagnostics.
There were over 1,600 beds reserved for the patients during the pandemic’s peak. 23 Fortis Healthcare facilities are working closely with the government to improve the vaccination drive in the country.
The company looks to change its name from ‘Fortis’ to ‘Parkway’ after an offer from the Malaysian firm IHH Healthcare, with an order from the Supreme Court, which has the company chairman hopeful that the name would be changed with no discrepancies after the summer recess. The name of the SRL would also be subjected to change.
The offer has not proceeded due to the ongoing legal proceeding concerning the pending transaction. Fortis is an IHH Healthcare Berhad company with over 36 facilities, 4000 operational beds, and 400 diagnostic centres across the country. The healthcare facility is present in India, UAE, and Sri Lanka.