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.
Private hospital chains Fortis Healthcare and Apollo Hospitals have started administering Russian COVID-19 vaccine Sputnik V at two of their hospitals in Delhi-NCR, officials said.
Analysts are expecting pharmaceutical companies to post sales growth of 10-11 per cent in the second quarter this financial year while the Ebitda (earnings before interest, tax, depreciation, and amortisation) margins are anticipated to improve by about 110 basis points. Ebitda improvement will be led by lower input costs because prices of active pharmaceutical ingredients (APIs) are 5-15 per cent lower year-on-year (Y-o-Y). Axis Capital said sales growth would be around 10 per cent, of which growth in the India market would be 11 per cent or so.
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
'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.
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).
Apollo Hospitals and Fortis Healthcare are open to importing vaccines.
'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.'
'Every hospital now tracks length of stay closely.' 'More efficiency is brought into the system now.'
The sector has expansion plans worth more than Rs 2,000 crore to increase their bed strength in response to robust demand. Fortis, which now manages 3,000 beds with a network of 26 hospitals, is planning to double capacity by 2012 with 40 hospitals. Apollo Hospitals, which has 7,500 beds in 43 hospitals in India and overseas, plans to add 2,000 beds in two years. Meanwhile, the 17-hospital Wockhardt chain will soon add hospitals at Kolkata, Mumbai and at Nasik in Maharashtra.
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.
"My family reputation kept me a silent spectator, as I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our legacy, our finances and my personal credibility."
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
Fatehi was questioned at the Mandir Marg office of the EOW for hours on Friday.
Ranbaxy group company Fortis Healthcare has said its acquisition of Escorts Heart Institute and Research Centre from Rajan Nanda's Escorts did not require "prior consent of Delhi Development Authority".
Essel Group, Reliance Jio, Fortis and 17 others on Thursday signed initial pacts to invest over Rs 39,000 crore (Rs 390 billion) in Uttar Pradesh, with Chief Minister Akhilesh Yadav promising the investors all possible support.
Malvinder "forged the signatures" of Aditi Singh, Shivinder's wife, in the documents of RHC Holdings Pvt Ltd, which along with Oscar Investments Ltd jointly owned financial services firm Religare Enterprises Ltd and hospital chain Fortis Healthcare Ltd, it said.
The court posted the matter for hearing on October 22.
Better margins, lower interest outgo could see the company turn profitable in FY15.
The actor was accompanied by Pinki Irani who allegedly introduced her to Chandrashekhar, a senior police officer said.
Home healthcare remains a niche segment in India even today. Nightingale provides services, starting from family physicians, short- and long-term nursing care, post-hospitalisation care and physiotherapy to stroke rehabilitation, respiratory care, bedside caregivers and attendants, intensive care at home, lab tests and speech therapy.
Whistle-blowers allege the brothers violated court orders by selling assets like art and real estate worth crores bought by funds from their companies.
Fortis Global Healthcare on Thursday said it has acquired a specialised under construction cancer hospital in Singapore from First Real Estate Investment Trust for a consideration of SGD 33 million (over Rs 115 crore).
Chandrashekhar is accused of cheating many people, including high-profile individuals such as former Fortis Healthcare promoter Shivinder Mohan Singh's wife Aditi Singh.
"In India, the sector will grow to $10 billion by 2018," predicts Vishal Bali, co-founder, Medwell Ventures, in an interview with Apurva Venkat.
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.
The investigating officer of the Delhi police, in the remand application, had sought custodial interrogation of the accused saying it was required to identify the persons to whom the alleged siphoned off money was transferred and to ascertain the purpose of creating the shell companies.
Made possible through calculated decision on an unforeseen development.
In August, the ED had raided the residential premises of former Ranbaxy CEO Malvinder Mohan Singh and his brother Shivinder Singh in connection with a money laundering case.
Fortis Global Healthcare Holdings on Wednesday said it will acquire 30 per cent stake in Australia's Dental Corporation for about AUD 100 millions (about Rs 450 crore).
Parkway, which is the biggest listed hospital chain in Asia, is now at the centre of a probable bidding war between the Singh Family-promoted Fortis Healthcare and Khazanah.
Chains such as Fortis generate a significant portion of their revenue through health insurance policy reimbursements.
Singh says Japanese pharma giant's allegations false.
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.
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 sale of the 10 hospital properties to Fortis Healthcare will help Khorakiwala repay the Rs 500 crore (Rs 5 billion) debt on Wockhardt Hospital's books.
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.
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.
"Our intention has always been to provide value-for-money services," Shivinder Mohan Singh, MD, Fortis Healthcare.
