Fortis looks at more acquisitions; zeroes in on targets

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Fortis looks at more acquisitions; zeroes in on targets

Confident about growing two times in the next few years, Chairman and Managing Director of Fortis Healthcare Shivinder Singh says, the company is also looking at acquisitions in wellness retail, with a deal size of Rs 20-25 crore.

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Shivinder Mohan Singh's healthcare mantra for India is quality facilities at affordable prices and as the Managing Director at Fortis Healthcare that is what he is aspiring to do.

The first Fortis Hospital was opened in 2001 in Mohali and today it is the country's second largest hospital chain with over 5,000 beds. The acquisition of the Escorts Heart Institute in 2005 and the just finished purchase of Wockhardt Hospitals have grown the Fortis' network to about 40 facilities across the country.

Not just Fortis, Shivinder is also working on taking public the pathology business, Super Religare Laboratories. Also, on the cards expanding the healthcare retail chain Religare Wellness.

With the Wockhardt deal just done it was a good time to talk to Shivinder about the future, his global aspirations and how the Singh brothers plan to invest Rs 10,000 crore they netted from selling Ranbaxy .

Fortis Healthcare is looking at more acquisitions, for which it is zeroing in on targets, says Chairman and Managing Director, Shivinder Singh. Confident about growing two times in the next few years, he says, the company is also looking at acquisitions in wellness retail, with a deal size of Rs 20-25 crore. "Margins will scale up further from the current levels," he says, adding that there will be two more low-cost hospitals starting in the next 24 months.

Singh however denies plans to include all healthcare ventures into one company. "We are also not looking at strategically deploying capital in international markets in 2010."

Fortis has planned Super Religare Labs initial public offer (IPO) for 2010, Singh says, adding that they are open to pre-IPO placement for it. "There is no need to tap equity markets for funds for Fortis."

Commenting on the recently acquired Wockhardt Hospitals, he says, the company will be rebranded Fortis within nine months. "We have seven greenfield hospitals in the pipeline post Wockhardt acquisition."

In an interview with CNBC-TV18, Shivinder Mohan Singh outlined the aggressive acquisition agenda and plans of an IPO for Super Religare Labs, or SRL in 2010 and the company's plans on the retail side of the business.

Interview transcript on next page...