Fortis to substantially invest in bolstering oncology facilities

Taking cognizance of the escalating global cancer incidence, Fortis Healthcare is set to substantially invest in bolstering oncology facilities, indicated company’s CEO Ashutosh Raghuvanshi.

The company has a strategic intent to focus on core specialties, prominently oncology, which currently accounts for a significant 13% of the healthcare giant’s revenue. Likely to a higher proportion due to recognizing the revenue, the growth in this sector is essential as disease profiles over the globe are continually evolving.

“Cardiac sciences still remain a significant revenue driver, contributing about 23% of our revenue, reflecting our rich legacy in cardiac care. However, oncology’s growing contribution signifies the urgent need for enhanced cancer care facilities”, Raghuvanshi said.

In line with its focus, Fortis is channeling investments in cutting edge technologies like MR LINAC, a magnetic resonance-guided linear accelerator that combines MRI with radiation therapy to target and treat cancers and Gamma Knife, substantially enhancing its oncology capabilities in North India. The healthcare company is also actively expanding bed capacity across hospitals and plans to make significant additions in various locations.

This trend of expanding oncology facilities, Raghuvanshi explained, is common among major hospitals including Max healthcare and Narayana Health. This is driven by factors like lifestyle changes and environmental impacts that contribute to the increasing cancer cases. Consequently, both public and private sectors are working to meet the escalating demand with a focus on early diagnosis and affordable treatment options, he said.

Raghuvanshi noted that that, despite abundant cancer treatment centers in major urban cities, regional disparities still exist. Recognizing this need, Fortis aims to expand centers in tier two and tier three cities. “We are strategically focusing on existing clusters like Punjab and scrutinizing opportunities in urban clusters for potential expansions or acquisitions, particularly in cancer care or multispecialty services”, said Raghuvanshi. Business Today