Shares of Fortis Healthcare Ltd were trading in the red and 1% lower on 21 August despite the company announcing that it has signed a collaboration agreement with the Ekana Group for the administration and management of a 550-bed greenfield super speciality hospital in Lucknow.

The Ekana Group will develop the planned hospital in Gomti Nagar in Uttar Pradesh’s state capital. Once the facility is ready, Fortis Healthcare will take over operations and administration, according to the agreement.

The proposed hospital will serve as a Centre of Excellence for tertiary care services, providing modern medical infrastructure and global best practices to patients in Lucknow and outside.

Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare, said, “We are delighted to partner with Ekana Group to bring a state-of-the-art tertiary healthcare facility to the heart of Lucknow. Once operational, this new 550-bed super-speciality hospital near Gomti Nagar will significantly enhance access to advanced medical care for the city and its surrounding regions.

This collaboration marks Fortis Healthcare’s third major presence in Uttar Pradesh, joining our network hospitals in Noida and Greater Noida, and underscores our steadfast commitment to expanding high-quality healthcare across the state.”

At 2:00 pm, the shares of Fortis Healthcare were trading 1.7% lower at Rs 947.55 on NSE. 

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