Fortis Healthcare aims to focus on revenue growth
NEW DELHI: Fortis Healthcare plans to initiate various measures like engaging with key corporate clients, leveraging digital platforms, and developing further competencies in cancer care, neuro and renal sciences, to improve margins and grow revenues this fiscal, as per the company’s Annual Report for 2020-21.
The healthcare major is also looking to bring in new technologies in its diagnostics subsidiary SRL.
“For the year 2021-22, our focus would be on revenue growth initiatives, including building our franchise in the catchment areas, engaging with key corporate clients, strengthening community connect and leveraging our digital platforms,” Fortis Healthcare chairman Ravi Rajagopal said.
Informing the company’s shareholders, he said the healthcare provider would strengthen its key specialties such as cardiology, neurology, oncology, nephrology, orthopedics and pulmonology by upgrading technology and onboarding clinicians of repute.
“We will continue to invest in oncology, neuro sciences and renal sciences to improve margins,” Rajagopal said.
At SRL, the firm would focus on continuing the investment in new-age technologies and innovative diagnostics solutions which will empower clinicians and enable them to collaborate on a real-time basis, he added.
In the financial year 2020-21, Fortis Healthcare’s consolidated revenue from operations stood at ₹4,030 crore as compared to ₹4,632 crore in 2019-20.
Rajagopal noted that in the past one year, over 33,000 Covid-19 patients were successfully treated at the Fortis facilities across the country.
“Over 1.18 lakh patients were treated at the flu clinics/OPDs (outpatient departments), and about 2.5 million Covid-19 molecular and serology tests were conducted by our partner, SRL Diagnostics,” he added.
At the peak of the pandemic, the company reserved 1,600 beds for Covid-19 patients, Rajagopal told the shareholders.
On the company’s name change, Rajagopal said: “The board have, subject to guidance by the Supreme Court, sought a change in the name and branding of the company and its hospital subsidiaries to ‘Parkway’, an acclaimed brand of IHH Healthcare Berhad. Regulatory clearances will be sought in due course.” The company is also considering a name change for SRL, he added.