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Tan said IHH has developed a 100-day turnaround plan to improve the operating margins by around 500-600 basis points.
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In an interview with CNBC-TV18, Ashutosh Raghuvanshi, VC, MD & Group CEO of Narayana Health spoke about the latest happenings in his company and sector.
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Fortis Healthcare has received a non-binding indication interest from Manipal Health but no decision has been taken by board on Manipal offer. In an interview with CNBC-TV18, Sandeep Parekh, Founder of Finsec Law Advisors shared his views and outlook on the same.
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After a scathing report from the National Pharmaceutical Pricing Authority (NPPA) highlighting huge margin mark ups in corporate hospital Fortis' in patient bills, there has been a growing call for regulating private hospitals. But is it feasible? On the side-lines of a book launch, Wockhardt Hospital’s Chairman Habil Khorakiwala said government is abdicating its responsibility by just expecting to regulate private sector.
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Bhavdeep Singh, CEO, Fortis Healthcare says Fortis is looking at other payment options like digital wallets and is doing its best to not turn patients away.
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Singhal sees significant opportunity for diagnositics players such as Dr Lal Path Labs, Thyrocare and SRL. Organised players are already gaining market share and companies which maintain quality standards will definitely do well, he says.
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The name of Fortis Malar will subsequently be changed to SRK. CNBC-TV18's Varinder Bansal caught up with Bhavdeep Singh, CEO, Fortis Healthcare, to get more details.
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The board of directors of Fortis Healthcare on Friday approved the demerger of its diagnostics business. Fortis will include its diagnostics business into Fortis Malar Hospitals which will later be renamed SRL, the company said in a filing to BSE.
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The healthcare company will rely on brownfield expansion for driving growth and is also exploring the de-merger or a possible listing of SRL Diagnostics arm, Chief Executive Officer Bhavdeep Singh told CNBC-TV18.
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The hospital's occupancy rate is hovering around 72-73%, which Singh claims is higher than the industry. In the diagnostic business, Fortis expects to see margins in the high 20s.
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CEO Bhavdeep says Fortis Healthcare is targetting a 20 percent increase in bed count over the next four to five years, annually.
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Post divestment the company is expected to cut down its debt to Rs 400 crore from the current Rs 900 crore.
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Fortis Healthcare will use the entire proceeds from its 64 percent stake in Dental Corporation Holdings Ltd (DC), Australia to pare debt, says Vishal Bali, Global CEO. The company's stake in DC will be sold to Bupa for 270 million Australian dollar (around Rs 1,554.36 crore) by March 2013.
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In an interview to CNBC-TV18, Vishal Bali, global chief executive officer, Fortis Healthcare says the company is trying to take a lot of steps to reduce their overall debt. He says a committee has been set to reduce their debt levels.
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Religare Health Trust, backed by Indian hospital chain Fortis Healthcare, has successful raised 510.7 million Singapore dollars in gross proceeds from its initial public offering (IPO) on the Singapore Exchange (SGX).
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Healthcare major Fortis will acquire its Singapore-based arm Fortis Healthcare International for USD 665 million informed, the company’s chairman Malvinder Singh.
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Fortis Healthcare India today announced an all-cash deal to acquire Fortis Healthcare International as part of its plan to merge India and international operations. CNBC-TV18 catches up with the Singh brothers, Malvinder and Shivinder Singh, to understand the rationale behind the deal and the way forward for the merged entity.
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Hospital chain Fortis Healthcare (India) will buy Singapore-based sister firm Fortis Healthcare International in a move to bring all of the group's health businesses under one firm, group Chairman Malvinder Singh said.
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Malvinder Singh, chairman of Fortis Healthcare said that this deal will make the company one of the leading international healthcare delivery service companies in this marked space.
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Malvinder Singh, Chairman, Fortis Healthcare, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
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Fortis' second attempt to enter Singapore has proved to be successful. Fortis Global Healthcare Holdings acquired an under construction specialised cancer hospital in Singapore.
