Fortis to open SGD 70 mn cancer hospital in Singapore

Strengthening its presence in the Singapore healthcare space, Fortis Healthcare today said it will shortly be opening a SHD 70 million (nearly Rs 308 crore) super speciality cancer hospital in that country.

"We are opening a colorectal specialty hospital in Singapore for which the investments have been nearly SGD 70 million," Fortis Healthcare Executive Chairman Malvinder Mohan Singh told reporters here.

He was speaking on the side lines of a Confederation of Indian Industries (CII) event to showcase investment opportunities in the Northern states. The hospital will be formally opened on July 31, the company said.

The Fortis colorectal hospital has also tied up with Institute of Bioengineering and Nanotechnology (IBN) and set up a tissue bank to improve the diagnosis and treatment of colorectal cancer. Colorectal cancer is cancer of colon or rectum.

In Singapore, it is the most common cancer in men and the second most common cancer in women after breast cancer, the company said. Earlier this year, Fortis Healthcare had acquired a majority stake in Singapore-based diagnostic firm RadLink-Asia Pte Ltd for SGD 62.9 million (about Rs 245 crore).

The Indian firm had said the acquisition had provided it a strong foothold in the premium diagnostics and molecular imaging segment in one of South East Asia's most attractive markets.

Fortis had further said the investment will provide a complementary platform to its upcoming specialty hospital in Singapore. In India, it plans to soon open a multi-speciality hospital in Gurgaon besides expanding facilities at its existing hospitals in the country.

On being asked about the listing of SRL, Singh merely said it will be done without giving any time frame. Fortis Healthcare currently has over 75 hospitals with more than 12,000 beds, 580 primary care centres, 188 day care speciality centres, 190 diagnostic centres, with over 4,000 doctors and 23,000 employees.