Fortis Healthcare Enters Odisha, Signs O&M Agreement with Dion Group for 300-Bed Multi-Specialty Hospital in Cuttack

Fortis Healthcare has signed an Operations and Management (O&M) agreement with Dion Group, one of Odisha's leading real estate and infrastructure development groups, for a 300- bed greenfield multi-specialty hospital to be developed at Dion Riverside Township, Trishulia in Cuttack, Odisha. Headquartered in Bhubaneswar, Dion Group has established a strong presence in the state through landmark residential, commercial and integrated township developments and is currently expanding its footprint across hospitality and healthcare infrastructure. Once operational, the facility will serve as a major tertiary care destination for Odisha and neighbouring regions, bringing advanced clinical expertise, cutting-edge medical technology, and globally benchmarked healthcare services closer to patients.

Strategically located within the rapidly developing Cuttack-Bhubaneswar corridor, the hospital is envisioned as a Centre of Excellence for multiple specialties and will significantly strengthen access to advanced healthcare across Eastern India. The facility will offer comprehensive tertiary and quaternary care services supported by advanced diagnostics, critical care infrastructure, and specialised clinical programmes.

The collaboration marks Fortis Healthcare's first major presence in Odisha and forms part of the Company's broader strategy to expand access to quality healthcare across the country through a combination of brownfield expansion and inorganic growth initiatives, including operating and management agreements and asset-light growth models.

Speaking on the collaboration, Dr. Ashutosh Raghuvanshi, Managing Director & CEO, Fortis Healthcare, said, "We are delighted to partner with Dion Group for this important healthcare project in Odisha. The upcoming 300-bed multi-specialty hospital will play a significant role in improving access to advanced tertiary care services for patients across Cuttack, Bhubaneswar, and neighbouring regions. This collaboration represents an important milestone in Fortis Healthcare's growth journey and reflects our continued commitment to expanding high-quality healthcare infrastructure across India. We look forward to bringing Fortis' clinical excellence, patient-centric care, and operational expertise to Odisha."

Mr. Manoj Sahoo, Promoter, Dion Group, said, "At Dion Group, our vision has always been to create integrated communities supported by world-class infrastructure and services. As one of Odisha's leading development groups, we are committed to contributing meaningfully to the state's growth and quality of life. We are pleased to partner with Fortis Healthcare, one of India's leading healthcare providers, to bring a world-class multi-specialty hospital to Odisha. This collaboration brings together Fortis' proven clinical and operational expertise with our vision of creating modern healthcare infrastructure for the state. The project will help address the growing demand for advanced healthcare services and provide patients access to quality medical care closer to home."

The proposed hospital is expected to contribute significantly to the region's healthcare ecosystem by enhancing access to specialised treatment, reducing the need for patients to travel outside the state for complex medical care, and creating a robust platform for advanced clinical services, medical talent, and healthcare innovation.

Shares of Fortis Healthcare Limited was last trading in BSE at Rs. 974.70 as compared to the previous close of Rs. 974.95. The total number of shares traded during the day was 21062 in over 1309 trades.

The stock hit an intraday high of Rs. 988.75 and intraday low of 972.40. The net turnover during the day was Rs. 20591424.00.

Source : Equity Bulls

Keywords

FortisHealthcare INE061F01013 HealthcareFacilities Odisha