Daijiworld Media Network – Cuttack
Cuttack, Jul 4: Fortis Healthcare has signed an operations and management (O&M) agreement with developer Dion Group to operate a 300-bed multispecialty hospital in Cuttack, marking the hospital chain's first major presence in Odisha.
The collaboration also represents Fortis Healthcare's second major expansion in eastern India after Kolkata. The proposed greenfield hospital is expected to become operational within the next three years.
The facility will be developed as a Centre of Excellence offering multispecialty healthcare services, including tertiary and quaternary care, with the aim of improving access to advanced medical treatment for patients in Cuttack, Bhubaneswar and neighbouring regions.
Fortis Healthcare Managing Director and Chief Executive Officer Ashutosh Raghuvanshi said the project forms part of the company's broader strategy to expand access to quality healthcare across the country through a mix of brownfield expansion, inorganic growth initiatives, operations and management agreements, and asset-light growth models.
According to a regulatory filing, the Fortis network currently operates around 6,100 beds across 36 healthcare facilities, including approximately 1,200 beds under O&M arrangements.
Dion Group promoter Manoj Sahoo said the partnership combines Fortis' clinical and operational expertise with Dion's vision of developing world-class healthcare infrastructure in Odisha.
He said the project would help meet the growing demand for advanced healthcare services in the state while enabling patients to access quality medical care closer to their homes.
The Odisha expansion reflects a wider trend of leading hospital chains strengthening their presence in fast-growing tier-2 cities across eastern India, where rising income levels have increased demand for specialised healthcare services.
Earlier this year, Max Healthcare announced the acquisition of a majority stake in Kalinga Hospital for an enterprise value of Rs 300 crore, while Manipal Hospitals has expanded its footprint through acquisitions in Kolkata and Ranchi.
Fortis Healthcare announced the agreement after market hours. Its shares closed 0.03 per cent lower at Rs 974.70 on the Bombay Stock Exchange (BSE) on Friday.