Four Directors from IHH Healthcare Appointed to join the Board of Fortis Healthcare
The Silicon Review
13 November, 2018
IHH Healthcare, Asia’s largest private healthcare group has made an announcement that it has appointed four directors to visit and join the Fortis Healthcare team in India. The announcement was made public on Tuesday.
The members of IHH Healthcare will join Fortis team board. A few peoplewill form the interim leadership group which includes Ravi Rajagopal (Chairman of Fortis), Bhavdeep Singh (former chief executive of Fortis) and Shivinder Singh (Founder of Fortis).
On Wednesday, the members of IHH Healthcare will attend the press, after that, on the same day; they will be meeting doctors and employees of the Gurugram branch. On the next the next day IHH members will fly to Bangalore.
According to sources, IHH Healthcare has also planned to acquire RHT, Religare Health Trust, the trust that owns few assets of Fortis Healthcare.
The board meeting will likely discuss Fortis’s payment structure, its liquidity requirements, equipment maintenance,and infrastructure upgrades.
There are 34 hospitals which are operated by Fortis Healthcare across several Indian cities. In its fiscal year 2018, the hospital’s doctors and staffs catered around 2.6M patients. There are 4,600 beds, 2000 doctors and 13,200 supporting staffs across its branches.
The IHH-Fortis deal was approved by the Competition Commission of India (India’s antitrust regulator) on 30 October. Now, IhH has the chance to acquire a controlling stake in Fortis for about Rs.4000 crore.
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