India IHH boasts one of the most extensive healthcare networks in India with 28 Fortis Healthcare hospitals, six Gleneagles Hospitals, and three medical centres. Our network of hospitals in India offers a full spectrum of integrated healthcare services ranging from clinics to quaternary care facilities and a wide range of ancillary services. Our hospitals have a strong reputation for clinical excellence. For example, Gleneagles Hospitals India is renowned for world class multi-organ transplant procedures, while Fortis Escort Heart Institute is well-known for cardiac sciences. Performance Highlights • Strong growth in revenue intensity due to greater domestic elective procedures, more acute surgical cases undertaken and the recovery of medical travel. • Acquisition of the 350-bed Medeor Hospital in Manesar, Gurugram by Fortis Healthcare. • Divestment of Fortis Arcot Road Hospital and Fortis Malar Hospital as part of portfolio recalibration to improve profitability. • The launch of a new 70-bed unit in Fortis Ludhiana. This is the second facility in Ludhiana and the fourth in Punjab. This will take Fortis’ total bed strength to about 800 in the Punjab region. • The new Fortis Cancer Institute Outpatient Department Block was inaugurated in August 2023, at Fortis Vasant Kunj Hospital. It can provide complete and holistic cancer care and offers a wide range of services such as medical oncology, surgical oncology and bone marrow transplant. • Over 800 cancer specialists from India and abroad discussed the latest advancements in diagnostic tools and therapeutic oncology innovations at the Fortis Cancer Summit 2024 in Bengaluru. • Increased our stake in Gleneagles Global Hospitals – now rebranded to Gleneagles Hospitals – to almost 100% to promote growth. Outlook The national focus on building a “Healthy India” and strengthening medical hubs in the country are favourable trends for IHH. We foresee a long-term growth trajectory due to additional factors like increasing income among residents, higher insurance penetration and the growing emergence of chronic lifestyle diseases. With that in mind, we will continue to drive organic expansion by increasing bed capacity by more than a third by 2028 to capture the growing demand for healthcare services. In addition, via our twin engines of growth (Fortis Healthcare and Gleneagles Hospitals), we will invest in cutting edge medical equipment to offer the best treatments and upgrade our hospital facilities to provide a better patient experience. We will explore earnings-accretive opportunities as well as turnaround underperforming assets within this market. India continues to be a key market for IHH, with further room for broadening our influence and growing our operations. Performance Indicators Financial FY2022 FY2023 Revenue RM3.2 billion1 RM3.6 billion EBITDA RM492.3 million1 RM600.4 million Operational Average occupancy 69% 70% Inpatient admissions 298,437 299,506 Average revenue per inpatient admission RM9,300 RM10,596 1 FY2022’s revenue and EBITDA numbers have been restated as Labs is carved out as a separate business segment in FY2023. Annual Report 2023 39
RkJQdWJsaXNoZXIy NDgzMzc=