DLF, Fortis join hands to set up 15 hospitals

DLF Indias leading real estate developer and Fortis Healthcare have entered into an agreement to set up 15 hospitals in the next five years, leading to an investment of Rs 30 billion. Under the agreement, the two companies may form a joint venture to set up hospitals. The healthcare firm may hold a majority stake of 74% and the remaining 26% will be held by DLF.

The group is also looking for other options like buy outs and contract. Most of the hospitals they plan would be 250-400 bed capacity. 

Shares of  DLF declined Rs 2.50, or 0.39%, to trade at Rs 635.25. The total volume of shares traded was 599,144 at the BSE (Thursday).