New Delhi: Fortis Healthcare plans to focus on geographies such as National Capital Region, Mumbai, Bengaluru, and Kolkata where it can build further on its strengths in the current fiscal year, according to its Annual Report 2019-20. On the operational side, in the past year, Fortis Healthcare focused on launching and implementing several initiatives to improve the efficiency and overall operational performance, it added.
"Looking forward to the current fiscal year, we will focus on geographies where we can build further on our strengths – NCR, Mumbai, Bengaluru, and Kolkata," Fortis Healthcare Chairman Ravi Rajagopal said in his message to the company's shareholders.
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The company will evaluate its overall portfolio with a view to transforming and turning around currently underperforming hospitals having potential while growing and investing in high-performing facilities, and evaluating strategies regarding low potential facilities, he added.
Fortis Healthcare MD and CEO Ashutosh Raghuvanshi said the core of the new growth strategy is nurturing and investing in high-performing facilities in Bengaluru, Mumbai, Delhi/NCR, Kolkata and enabling the transformation of under-performing but high potential facilities. "We continue to assess our portfolio across geographies with the objective of increasing cost efficiencies across the organization in an unabated manner," he added.
Fortis Healthcare believes that a much higher and concentrated focus is required to delve deeper into existing markets and create clusters for higher economies of scale and stronger synergies in specific regions, Raghuvanshi said. "Our investments and resource allocation, be it in terms of clinical talent, medical equipment or expansion and growth plans, emphasizes the aforesaid strategic view," he added.
"We will continue pursuing key strategic and operational initiatives in the business; those that improve economic value, optimise sustainable long-term value enhancement, and provide positive outcomes for all stakeholders," he added. In the coming year, patient centricity, quality care, innovation and empathy will continue to be the cornerstone of Fortis Healthcare''s clinical framework, Raghuvanshi said.
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