New Delhi: Corporate hospital chain Fortis Healthcare has extended its operational rights for a 200-bed fully operational multi-specialty hospital in Greater Noida with a 15-year lease agreement with RR Lifesciences.
The company through its wholly owned subsidiary International Hospital Limited (IHL) has executed a sub-lease agreement with R.R. Lifesciences Pvt Ltd and further a tripartite agreement with Uttar Pradesh Industrial Development Authority (UPSIDA) and R.R. Lifesciences will also be executed.
According to a stock exchange filing, the agreement has been finalized for a monthly consideration of Rs 2.4 crore , plus applicable GST to be paid by IHL to the R.R. Lifesciences and gives Fortis access to the hospital land, building and equipment.
“The 15 year lease agreement is being executed in accordance with the approval from UPSIDA and may be renewed further,” the company added. .
Earlier, the hospital chain was managing the facility under an Operations and Management (O&M) arrangement and following this announcement will continue to operate the facility as ‘Fortis Hospital Greater Noida.’
Under the new arrangement, Fortis will assume complete operational and financial control of the multi-speciality facility which has a headroom for additional 50 beds within the existing set-up.
Commenting on the announcement Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare Limited, said, “Greater Noida is emerging as an important hub, driven by urbanization, industrial growth, and rising patient demand… and with this expansion, we are reinforcing Fortis’ leadership in the region.”
“Our focus will remain on delivering high-quality, ethical, and patient-centric care while exploring opportunities for further growth,” he added.
