Bhavdeep Singh, the CEO of Fortis Healthcare said that they haven't been able to focus on the business due to an internal issue, especially with regard to the promoters
Fortis Healthcare Executive Vice-Chairman Shivinder Mohan Singh is stepping down from his position to join a philosophical and spiritual organisation.
Fortis Healthcare Limited is close to picking up a majority stake in Naresh Trehan's upcoming Medicity project in Gurgaon, with the contours of the agreement expected to be finalised within a month.
DLF has entered into an agreement for floating a joint venture with Ranbaxy group company Fortis Healthcare to set up hospitals across the country with about Rs 6,200 crore (Rs 62 billion) of investments.
Following hectic negotiations, Fortis Healthcare managing director Shivinder Singh and Naresh Trehan have finally smoked the peace pipe
A letter to the SIC by Fortis' legal representatives said the release issued on Wednesday by Integrated Healthcare Holdings, arm of Khazanah, calls into question the purpose and intention behind it. IHHL had said it has received the approval of the majority of eligible shareholders of Singapore-based hospital chain Parkway who have so far voted on its partial offer.
Singh, who was instrumental in building required capabilities in the organisation said his role at Fortis did not allow him to spend time with his family, as the reason behind his resignation.
According to a report, the Indian healthcare sector will need a total capital investment of Rs 1.62 lakh crore (Rs 1.62 trillion) to provide accessible and affordable healthcare during the 12th Plan period.
'Defence, capital goods, engineering, capital market-related stocks, autos, and cement sectors are my bullish bets for Samvat 2082.'
A bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta held the former Ranbaxy promoters guilty of contempt of court and said that they had violated its earlier order by which the sale of their controlling stakes in Fortis Group to Malayasian firm IHH Healthcare was put on hold.
Fortis is reportedly close to acquiring 10 hospitals of healthcare major Wockhardt for up to Rs 1,200 crore (Rs 12 billion) and an announcement could be made anytime now.
Both Fortis and Religare are controlled by billionaire brothers Malvinder Singh and Shivinder Singh, but are different companies in the healthcare business.
Slated to become the second healthcare company after Apollo Hospitals to go public, Fortis will offload up to 25 per cent equity through the IPO. The rest will remain with the promoter family.
Ranbaxy Group company Fortis Healthcare Ltd on Monday said it plans to have 25 hospitals across the country in the next three years and is looking into the possibility of tapping the capital markets for expansion.
Fortis Healthcare, promoted by the Singh family of Ranbaxy, plans to expand its network to 40 hospitals within three years by either acquiring new facilities or setting up greenfield projects
Fortis Healthcare Holding Ltd on Thursday announced a medicity in Lucknow spread across 52 acres in a township being developed by Ansal Properties & Infrastructure.
Hospital chain Fortis Healthcare on Thursday said it is acquiring 23.9 per cent stake in the Singapore-based healthcare firm Parkway Holdings for about $685.3 million (nearly Rs 3,100 crore).
Fortis Healthcare may avoid a hurried response to counter Malaysian investment fund Khazanah's bid to acquire management control over Asia's largest health care chain Parkway Holdings from Fortis which holds the largest number of shares in Parkway.
The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case related to the alleged misappropriation of funds at Religare Finvest. A team of ED officials went to Tihar Jail and placed Singh under arrest as per the provisions of the Prevention of Money Laundering Act.
Malvinder is accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act.
These centres will undertake stem cell clinical research procedures relating to diabetes, cancer, cardiovascular disease, and neurological ischemia.
Fortis Healthcare plans to set up a sports science institute and build at least 10 more hospitals ahead of 2010 Commonwealth Games.
Malaysia's sovereign fund Khazanah on Monday offered to acquire full control of Parkway at SGD 3.95 per share with rival India's Fortis Healthcare agreeing to sell its entire stake in the hospital chain.
Fortis Healthcare and its founders, the Singh family, on Thursday made a $2.3 billion (around Rs 11,000 crore) bid to acquire all the shares in Singapore-based hospital chain Parkway in response to an offer launched by Malaysian fund Khazanah.
Singh, who took charge of EHIRC, relinquished the new position as part of new the settlement and would continue as the Managing Director of EHIRC
The Delhi High Court has issued notices to Escorts Ltd and chairman Rajan Nanda on a contempt petition filed by his estranged brother Anil Nanda.
Envisaged as a "one-stop shop" for healthcare at Emaar MGF residential complexes and other locations, the hospitals will focus on upper secondary and lower tertiary levels of treatment facilities, sources said. Each hospital will have a bed capacity of 75 to 125 beds.
Fortis Healthcare plans to raise about Rs 504 crore (Rs 5.04 billion) from the capital market in addition to the Rs 154 crore (Rs 1.54 billion) raised through private placements before the IPO, a top company official said in Mumbai on Wednesday.
UK based Trinity Capital (Eight) Limited has increased its stake in Ranbaxy group promoted Fortis Healthcare Limited (FHL) to four per cent from one per cent, through an additional investment of Rs 87 crore.
While Q2FY26 is expected to be mildly disappointing for the hospital sector, there's a lot of investor optimism for the future. This comes after a favourable revision in rates for Central Government Health Scheme (CGHS) procedures, as well as expectations of rising occupancy and growth in average revenue per operating bed (ARPOB).
'These children possess catastrophically low birth weights -- often 1.4 kgs or less. Such extremely low birth weight results in profoundly compromised neo-natal immunity.' 'The escalation to 97 deaths in three months precipitated contemporary attention precisely because this magnitude concentrates the humanitarian emergency, rendering it impossible for the administrative machinery to ignore.'
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
Sri Lanka stays with you not just in memory, but gently reminds you what a society can achieve when heart and heritage guide the way.
Three big private hospital chains -- Apollo, Fortis and Max -- on Friday announced the launch of Covid-19 immunisation drive for the 18-44 age group at limited centres in the country from May 1 while the Delhi government said it will start the vaccination exercise once it receives doses from the manufacturers.
