Malvinder Mohan Singh and Shivinder Mohan Singh, the promoters of Fortis Healthcare, will acquire key subsidiaries of Hong Kong-listed Quality Healthcare Asia (QHA) for HK$1,541 million (approximately Rs 882 crore). QHA is the largest private integrated healthcare service platform in Hong Kong.
After completion of its mandatory tender offer in Fortis Healthcare and Fortis Malar Hospitals, Malaysian health care giant IHH Healthcare is aiming to add 2,000 beds in a bid to double down on value creation in India. IHH, which is Asia's largest multinational private healthcare provider, currently has over 5,000 beds across a combined network of 35 hospitals and 11 states.
With over 45 healthcare facilities and over 300 vibrant diagnostic centres, Fortis is India's second-largest hospital chain -- next only to Apollo, which has 64 hospitals with 10,000 beds. Therefore, any international or domestic hospital chain that buys Fortis will simply catapult to the numero uno position.
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
Fortis Healthcare said its offer to acquire the shares of Parkway Holdings, the Singapore-based company that runs Asia's largest hospital network, will close on August 12.
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.
30% of Indian employees report experiencing daily stress in their workplace. This high stress level is compounded by anger, with 34% of Indian employees experiencing daily anger at work -- a figure significantly higher than many other countries.
The battle for control of Parkway Holdings, Asia's largest hospital chain, is set to be fought in Singapore. Khazanah, the Malaysian government-owned investment fund, which is the second largest shareholder in Parkway through Integrated Healthcare Holdings, has fired the first salvo by offering S$1.18 billion (US $710 million or over Rs 3,900 crore) for a majority stake in the company that is currently controlled by the Singh-family promoted Fortis Healthcare.
Siemens Healthineers, one of the largest manufacturers of made-in-India CT scanners, has sold 80-100 such machines in the last 45 days. The medical technology firm typically sells 250 machines in a year.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
There were more than three losers against every gainer on BSE
The most commonly asked questions relate to symptoms and prevention -- 'Will summer kill the coronavirus?', 'Should outside food and non-veg food be avoided?', 'Does smoking affect chances of recovery?', 'Are face masks useful?', 'Are hand sanitisers better than soap?', 'Are elders in my family more susceptible?'
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
After the advent of the US Affordable Care Act, popularly known as Obamacare, US insurance companies plan to encourage medical tourism.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Formal announcement of venture into new segment on Thursday; group's entry timely, given the demand, say experts
Is Being Human, the actor's apparel brand, an extension of his persona or is it a move to correct his bad-boy image?
In his penultimate State of the Union address, Barack Obama said that the economy is improving.
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