Mumbai, Dec. 22 -- The company said it has signed definitive agreements to acquire the 125 bedded People Tree Hospital in Yeshwanthpur through its wholly owned subsidiary, International Hospital. The composite transaction, including the acquisition of the hospital business, building and land, is valued at Rs 430 crore, including debt.

Fortis will also acquire an adjacent land parcel of around 0.8 acres, which will allow the facility to scale up to more than 300 beds. An additional investment of about Rs 410 crore is planned over the next three years to expand bed capacity, upgrade medical equipment and add clinical programmes such as radiation oncology.

People Tree Hospital Yeshwanthpur is a NABH accredited multi specialty facility offe...