Fortis Healthcare, promoted by former Ranbaxy owners Malvinder Singh and Shivinder Singh, will raise Rs 1,000 crore (Rs 10 billion) through a rights issue by the first week of August, to fund its expansion plan.
Chief Minister Arvind Kejriwal tweeted, "I am glad that the vaccine process for 18+ has started smoothly. It's heartening to see that youngsters are coming out in large nos to get vaccinated. Get your elders vaccinated too. Encourage ur friends and relatives also to get vaccinated."
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
When Fortis Healthcare wanted heart surgeon Naresh Trehan out of its new acquisition, the Escorts Heart Institute in New Delhi, last year, Trehan's ambitions to set up his own healthcare facility -- Medicity -- was cited as the cause. However, Trehan's plans were not new. Medicity, to be set up in Gurgaon, was first announced in 2005, the year Fortis acquired Escorts Heart Institute. Trehan continued as the Escorts' executive director for two more years.
Singh said they will focus on Fortis Healthcare and Religare Financial Services after the acquisition.
'Health will continue to be at the centre of the government's attention as it underpins economic recovery and our collective well being.'
Advertising industry watchdog ASCI upheld complaints against 82 campaigns in June for misleading ads, including those of Flipkart, Uber, Snapdeal, Vodafone.
NCLT allows Shivinder to withdraw petition against his brother Malvinder. Final decision to be taken by family members in their presence.
Shivinder's dream project, of course, is the Medicity he wants to put up at Gurgaon on the outskirts of New Delhi. That is where the problem with Trehan began, who has his own plans to come up with a similar project at Gurgaon.
Dr Trehan, who on Thursday dubbed as "nonsense" the announcement by Fortis Healthcare (the owners of EHIRC) that he has left the company, was stopped at the gates by the security guards on Saturday morning.
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.
When contacted, Trehan said it was the relatives and family members of the patients who came out in support of him and wanted him to perform surgeries.
Firms are opting for acquisitions over new projects as operational hospitals mean immediate revenue at lower costs.
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.
Fortis Healthcare Holding Ltd on Thursday announced a medicity in Lucknow spread across 52 acres in a township being developed by Ansal Properties & Infrastructure.
Pinky Irani alias Angel, 53, was arrested in this case by the agency in December last year. She was recently granted bail by a Delhi court.
Following hectic negotiations, Fortis Healthcare managing director Shivinder Singh and Naresh Trehan have finally smoked the peace pipe
A day after Fortis Healthcare (Fortis) sacked the high profile executive director of Escorts Heart Institute and renowned cardiologist Naresh Trehan, the Delhi High Court permitted him to carry out his duties as usual.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
India opener Shikhar Dhawan, on Tuesday, said the selectors have picked a 'very strong side' for the the ICC World Cup starting May 30 in the United Kingdom.
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.
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.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
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 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.
Fortis Healthcare plans to set up a sports science institute and build at least 10 more hospitals ahead of 2010 Commonwealth Games.
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.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
In 2014, Sun Pharma agreed to buy Ranbaxy -- which was then controlled by Daiichi.
Currently, the investor and his family's net worth in listed firms stands at Rs 8,517 crore, compared to Rs 8,388 crore as of March 31, 2020.
