Fortis Healthcare Signs O&M Pact with Dion Group for ₹600 Crore, 300-Bed Greenfield Hospital in Cuttack
Fortis Healthcare Limited has signed an Operations and Management (O&M) agreement with Bhubaneswar-based Dion Group to operate a new 300-bed greenfield multi-specialty hospital in Cuttack, Odisha. The facility will be developed at Dion Riverside Township in the Trishulia area, along the Cuttack-Bhubaneswar corridor.
Under the arrangement, Dion Group will build the physical infrastructure while Fortis Healthcare will manage clinical services and hospital operations once the facility is ready. The project is estimated to cost approximately ₹600 crore, with a construction timeline of three to three-and-a-half years.
The hospital is positioned as a Centre of Excellence offering tertiary and quaternary care across multiple specialties, supported by advanced diagnostics and critical care infrastructure. The agreement marks Fortis Healthcare's first major presence in Odisha and its second entry point into eastern India, following Kolkata.
The O&M structure allows Fortis to expand its bed capacity without directly funding land acquisition or construction, forming part of the company's broader strategy of asset-light growth through operations and management agreements alongside brownfield expansion. The Cuttack project is part of Fortis's wider plan to add around 2,000 beds over the next three years as it works toward a target of 10,000 beds by 2030.
The development adds new tertiary-care capacity to the Cuttack-Bhubaneswar region, an area currently served largely by standalone hospitals and a limited number of institutional healthcare providers.