Fortis Malar's second hospital in Chennai will be ready by September/October this year.
About Rs 200 crore-225 crore is said to have been invested on this 250-bed hospital, according to sources close to the development.
Fortis Malar group has taken Kochar Towers on Arcot Road, Vadapalani on long lease.
The commercial building is being converted into a multi-speciality hospital spanning 1.5 lakh square feet.
Malar's other hospital in the city – a 250-bed centre – operates in Adyar.
In 2007, the Fortis Group acquired Malar Hospitals for Rs 26 crore.
Fortis' acquisition of Malar came along with a Rs 20-crore debt. Malar wiped out all its accumulated losses in the second quarter of this year and is ready to expand.
Source: http://www.thehindubusinessline.com/...cle2836955.ece