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Fortis Healthcare Ltd.

BSE: 532843 Sector: Health care
NSE: FORTIS ISIN Code: INE061F01013
BSE 00:00 | 24 Apr 2020 Fortis Healthcare Ltd
NSE 05:30 | 01 Jan 1970 Fortis Healthcare Ltd

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OPEN 127.00
PREVIOUS CLOSE 123.90
VOLUME 12940
52-Week high 169.00
52-Week low 111.60
P/E 11.49
Mkt Cap.(Rs cr) 9,165
Buy Price 121.40
Buy Qty 500.00
Sell Price 123.90
Sell Qty 100.00
OPEN 127.00
CLOSE 123.90
VOLUME 12940
52-Week high 169.00
52-Week low 111.60
P/E 11.49
Mkt Cap.(Rs cr) 9,165
Buy Price 121.40
Buy Qty 500.00
Sell Price 123.90
Sell Qty 100.00

Fortis Healthcare Ltd. (FORTIS) - Chairman Speech


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Company chairman speech

Dear Shareholders

It gives me great pleasure to connect with you all through the Annual Report for theyear 2018-19. I warmly acknowledge the trust reposed in the new Board by our valuedshareholders without whose support our Company would not be where it is today. When thereconstituted Board began work last year we had a huge responsibility on our shoulders towork closely with the management and bring back the focus on our healthcare objectives andbusiness. What we have seen during this period is that our Company's commitment to patientcare carries great repute and this is what we need to continue to build on this year too.

According to the India Brand Equity Foundation 2019 the healthcare market in India isexpected to touch USD 372 billion by 2022 owing to rising incomes increased access toinsurance lifestyle diseases and greater awareness. This means we have a lot to do in thebusiness of therapy and cure guided by some remarkable specialists. As a brand Fortishas several facets. While it has been through some tough times in the last one and a halfyears we stand for much more. Our focus and investment in clinical excellence over theyears has made sure that we excel and deliver on the clinical and operational side. Ourteams too believe this and have stood by us through this difficult period. I sincerelythank our specialists clinicians nurses paramedics technicians and all the staff atFortis who have continued to deliver despite all the odds. I foresee a very bright futurefor the Company.

We have now moved forward with sustained stability and aim to bring into play a newrealm of service delivery in India. The Company has witnessed a significant change in itsgovernance structure in order to shed its past challenges and give a renewed focus onbusiness. We continue to take appropriate measures and legal recourse in critical mattersand have ensured full cooperation in all legal and regulatory matters with relevantauthorities.

Fortis has also over the past year successfully managed to transparently andefficiently bring in significant and reputed strategic investors into the company. Withthe IHH coming in as the single largest shareholder we are witnessing one of the biggestand most remarkable alliances that the healthcare industry in India has ever seen before.It represents the transformational association of two healthcare giants to achieve synergyin promoting patient-centric healthcare. This partnership allows India to step onto theglobal platform foster exchange of knowledge and learnings from best practices. IHHbrings to us the potential for a stronger and wide network of partners patients best-in-class medical technology and other innovations that will help Fortis stay ahead of thecurve.

The successful closure of the RHT Health Trust (RHT) buy-back in the last quarter ofthe Financial Year was a historic event in Company's journey as it provides huge annualsaving of funds that can now be ploughed back into the system for operational excellenceand critical projects. This certainly augurs well for the future of the Company.

I look forward to working with you all in the coming months.

Thank you

Ravi Rajagopal

Independent Director Chairman


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