What is the history of Fortis Healthcare?
Fortis Healthcare was established in 1996 in India by Malvinder Mohan Singh and Shivinder Mohan Singh, members of the family that founded Ranbaxy Laboratories, with its flagship hospital opening in Mohali, Punjab, in 2001. Over the 2000s and 2010s, Fortis rapidly expanded into one of India's premier private healthcare network providers through aggressive organic hospital developments and strategic acquisitions, including the acquisition of Escorts Heart Institute and a controlling stake in SRL Diagnostics. Following corporate governance challenges, financial restructuring, and debt reorganizations in the late 2010s, Asian healthcare conglomerate IHH Healthcare acquired a controlling 31.1% stake in Fortis Healthcare in 2018, stabilizing operations and positioning Fortis as a leading provider of tertiary and quaternary medical care across India.
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