Bloons that benefit from a large HP increase and staying for longer will benefit greatly from Improved Fortification. It also has strong synergy with Double Bloons, effectively +300 damage.
Bloons that trigger beneficial On Damaged effects (e.g. Growth Gas Bloon, Weakening Gas Bloon) benefit greatly from Improved Fortification, so their effects can be triggered more often.
Steady Growth Bloon's +50 HP per round benefits from both lasting longer and the HP boost, assuming the opponent lacks any powerful bursts.
Bloons that don't care about delay also benefit much from Improved Fortification, such as Strengthenator.
Furthermore, Double Bloons like the Double Ceramic Bloon and Double Yellow Bloon will also benefit just as much, if not possibly even more due getting an effective 300 additional damage, although the delay increase of 1 may give the enemy a great opportunity to rush it down.
Using a Quick Ready or Hastening Bloon, however, will balance this out, although this combo is hard to set up and expensive and, in the case of the latter option, requires no other Bloons on your side if you don't want it to be luck based.
Increased Fortification can also be used to align an already high-HP Bloon to pair with other bloons of similar delay.
Against Dreadbloon's Immunity card, this can be used to set back a zero-delay friendly Bloon so it doesn't get wasted.
Description changed ― Give target friendly Bloon +150 Health but increase its delay by 1 → Give target friendly Bloon +150 Health and increase its delay by 1