Fortis hospitals to be renamed as Parkway

Fortis Healthcare board has given in-principle approval to rename the company and its subsidiaries as Parkway, a leading brand of the parent IHH Healthcare.
However, the rebranding exercise will be subject to requisite approvals and directions from the Supreme Court and the receipt of all requisite corporate and other approvals.
SRL, the diagnostics arm would have a new neutral brand name, brand and logo, unrelated to the IHH Group and the Fortis brand, for use in the diagnostics business.
Parkway is a well renowned and internationally acclaimed brand in the field of healthcare, belonging to the IHH group.
The IHH group operates more than 15,000 licensed beds across 78 hospitals in 10 countries worldwide and is Asia’s largest integrated private healthcare provider.
HH Healthcare acquired a 31 percent stake in Fortis Healthcare in August 2018 by paying $1.1 billion in a bidding process overseen by an independent board. However, it couldn't make progress on its mandatory open offer to acquire a 26 percent stake due to a Supreme Court stay order.