Fortis Healthcare Acquires 7.61% Stake In Agilus Diagnostics For Rs 429 Crore

Fortis Healthcare Ltd. acquired a 7.61% stake in Agilus Diagnostics Ltd. for Rs 429.4 crore from parent International Finance Corp. on Friday, according to an exchange filing.

The private hospital obtained 59.7 lakh shares at Rs 719.2 apiece from IFC. As part of the larger transaction, the company will obtain 31.52% of Agilus Diagnostics, it said.

The Gurgaon based company will also mop up 1.24 crore shares or 15.86% of Agilus Diagnostics from NYLIM Jacob Ballas India Fund III LLC and 63.10 lakh shares or 8.05% from Resurgence PE Investments Ltd.

The above transaction will be considered as a related-party transaction as NJBIF and Resurgence are related parties of Agilus, which is a subsidiary of IFC, the filing said.

Fortis Healthcare received the Competition Commission of India’s consent on Oct. 29 to obtain shares of the PE Investors in Agilus along with the shares in Agilus held by IFC.

Agilus has a nationwide presence with a large network of laboratories, making it the largest diagnostic service provider in India. As of Nov. 30, it operates 407 labs, over 4,000 customer touchpoints, and 14,000 pick-up points across more than 30 states and union territories, covering 532 districts and more than 1,000 towns.

Fortis Healthcare reported a 12% rise in its revenue to Rs 1,988 crore for the second quarter of the current fiscal 2025. Its profit soared to Rs 193 crore, representing 5% rise for the July- September quarter of fiscal 2025.

Shares of Fortis Healthcare closed flat at 677.85 per share on the National Stock Exchange. In contrast, the benchmark Nifty fell 1.52%. The stock has risen 61.7% on a year-to-date basis.

Out of the 15 analysts monitoring the company, 14 have a 'buy' rating on the stock and one maintain 'sell' according to Bloomberg data. The average 12-month analysts' price targets from analysts suggest a potential upside of 2.7%.