Saraf and Partners Advises Fortis on 400+ Bed Super Specialty Hospital Collaboration in Delhi
Saraf and Partners advises Fortis Healthcare Limited and its wholly owned subsidiary Fortis Hospital Limited (“Fortis”), one of India’s leading integrated healthcare service providers, on its collaboration with Seth Sunder Lal Jain Charitable Eye Hospital (“SLJ Society”), a registered society under the Societies Registration Act, 1860, for providing healthcare and medical services and for facilitating SLJ Society to construct, upgrade and operate a state-of-the-art 400+ bedded super specialty hospital (“Hospital”) in Ashok Vihar, New Delhi.
The hospital will be owned, operated and managed by SLJ Society, and Fortis will be providing healthcare services to SLJ Society. The land, building and the associated civil and certain medical infrastructure will be owned and developed by the SLJ Society itself. Pursuant to this collaboration, Fortis executed a healthcare services agreement, loan agreement and certain ancillary agreements with SLJ Society.
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The hospital will be developed by SLJ Society as a state-of-the-art facility on ~3.1 acres of land in Ashok Vihar, North-West Delhi. With a planned capacity of 400+ beds, the hospital will be strategically located in one of Delhi’s key populous districts with dense catchment in surrounding areas as well.
Saraf and Partners acted for and advised Fortis on all aspects pertaining to the transaction.
The Transaction team was led by Vaibhav Kakkar (Senior Partner), Sahil Arora, Debarpan Ghosh and Keshav Pareek (Partners), and consisted of Shirin Singh (Principal Associate), Sonia Mangtani (Associate), Nikhil Surana (Associate) and Soumya Dave (Associate).
Saroj Jha (Senior Partner), Vikram Gupta (Partner Designate) and Rashid Maqsood (Associate) advised on the real estate aspects of the Transaction.
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Rohit Raghavan (Partner) and Khushi Agrawal (Associate) advised on the banking and finance aspects of the Transaction.
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