Fortis Healthcare partners with Dion Group to develop a ₹500-crore, 300-bed multi-specialty hospital in Trishulia, strengthening Odisha’s healthcare sector
OdishaPlus Bureau
For many years, Odisha’s investment landscape has been characterized by its rich mineral resources, primarily attracting investments in sectors such as steel, aluminum, coal, and power. However, this narrative is currently transforming.
In addition to securing unprecedented funding in mining, metals, and green energy, the state is experiencing a notable increase in high-value investments in the healthcare sector, with some of India’s largest hospital chains selecting Odisha for their expansion plans.
Following the entry of Manipal Group and Max Healthcare, the Gurugram-based hospital network Fortis Healthcare has revealed its inaugural major project in the state.
While Max Healthcare has strategically entered the market by acquiring a controlling interest in Kalinga Hospital, Fortis has formalized an agreement with the Bhubaneswar-based real estate developer Dion Group to construct a 300-bed Greenfield hospital in Cuttack.
This project signifies Fortis Healthcare’s first substantial footprint in Odisha, coinciding with the state’s emergence as one of the fastest-growing healthcare hubs in eastern India. Fortis Healthcare has entered into an operations and management (O&M) agreement with Dion Group for the forthcoming hospital, which will be situated in Dion Riverside Township in Trishulia, on the outskirts of the city.
While Dion Group will be responsible for developing the healthcare infrastructure, Fortis will oversee the operation and management of the facility.
The hospital is designed to be a 300-bed tertiary and quaternary care center, with an estimated investment of approximately ₹500 crore. It is anticipated to cater not only to patients from Odisha but also from neighboring states.
“Strategically positioned along the Cuttack-Bhubaneswar urban corridor, the facility will be developed as a center of excellence across various specialties. It will feature advanced diagnostics, critical care infrastructure, and specialized clinical programs to provide world-class healthcare closer to patients,” the healthcare group stated in a filing with the exchange.
Dr. Ashutosh Raghuvanshi, the managing director (MD) and chief executive officer (CEO) of Fortis Healthcare, characterized the project as a pivotal advancement in the company’s growth trajectory.
“The forthcoming 300-bed multi-specialty hospital will significantly enhance access to advanced tertiary care services for patients in Cuttack, Bhubaneswar, and surrounding areas. We are eager to introduce Fortis’ clinical excellence, patient-focused care, and operational proficiency to Odisha,” he stated.
The anticipated hospital is projected to bolster tertiary healthcare capabilities in eastern India by providing a wide range of services across various super-specialty fields, supported by cutting-edge medical technology, evidence-based treatment protocols, and integrated critical care facilities.
This proposed initiative marks Dion Group’s substantial diversification into healthcare infrastructure. Based in Bhubaneswar, the group has positioned itself as one of Odisha’s foremost real estate and infrastructure developers, with notable residential, commercial, and integrated township projects. In recent years, it has ventured into hospitality and healthcare infrastructure as part of its long-term growth strategy.
Manoj Sahoo, the promoter of Dion Group, remarked that the project is a realization of the company’s vision to create world-class infrastructure and essential services. “Establishing a world-class health facility was one of our primary objectives. This partnership merges Fortis’ established clinical and operational expertise with our ambition to develop modern healthcare infrastructure for the state. The project will address the increasing demand for advanced healthcare services and offer patients access to quality medical care closer to their homes,” he expressed.
Earlier this year, Max Healthcare Institute made its entry into Odisha by acquiring a controlling stake of 58.4 percent in Kalinga Hospital, located in Bhubaneswar, for Rs 297.97 crore (with an equity value of Rs 300 crore, including a control premium). The institute has plans to enhance its capacity and super-specialty services.
Before Max’s entry, Manipal Hospitals had already identified Odisha as a key growth market in eastern India. In recent years, the group has consistently expanded its operations by investing in advanced medical technologies, specialized treatment facilities, and clinical services. Apollo Hospitals has also significantly increased its presence in the state.
Industry experts attribute this heightened interest to the rapidly evolving disease profile in Odisha and the growing demand for advanced medical care. Recent health data indicates that non-communicable diseases (NCDs) now account for nearly two-thirds of all fatalities in the state. Large-scale screening initiatives have revealed that hundreds of thousands of individuals are living with hypertension and diabetes, while the prevalence of cancer, chronic kidney disease, cardiovascular issues, and liver disorders continues to escalate.
Odisha has an estimated incidence rate of approximately 97 cancer cases per 100,000 individuals. With nearly 55,000 new cases reported each year, both incidence and mortality rates have increased by over 22 percent in the past decade.
Dr. Datteswar Hota, the former vice-chancellor of Odisha Health University, stated that in addition to the increasing prevalence of non-communicable diseases (NCDs), the burgeoning industrial economy is also driving the need for top-tier healthcare infrastructure. With Odisha attracting investments amounting to several lakh crore rupees in sectors such as aluminium, steel, green energy, and manufacturing, the necessity for tertiary hospitals that can cater to a growing urban population, professionals, and the industrial workforce has become crucial, he remarked.
“Odisha boasts one of the fastest-growing urban populations in eastern India. Bhubaneswar and Cuttack have transformed into a metropolitan healthcare hub that serves not only Odisha but also regions of Jharkhand, Chhattisgarh, West Bengal, and Andhra Pradesh. The expansion of industry is generating a completely new patient demographic,” Dr. Hota further commented.