Fortis Healthcare In The Pink Of Health Plan To Consolidate Operations

The announcement was made at noon today, September 19, 2011.

Meanwhile, the BSE Sensex fell 180.78 points, or 1.07% at 16,753.05.

BSE, 3.15 shares were traded on the counter lakh against the daily average of 60 121 units in the quarter.

The action peaked at 155 rupees and a minimum of Rs 146.10 so far during the day. The action touched a low of 127.10 rupees 52 weeks of January 28, 2011. The action peaked at 176.95 rupees 52 weeks of October 11, 2010.

Stock market was weaker than the past one month till 16 September 2011, sliding 4.94% compared to the Sensex gain of 1.21%. Stock exchange market was also weaker in the fourth quarter, compared to the decrease of 7.95% to 5.85% Sensex.

Medium-sized hospitals in the chain has its own capital of Rs 405.16 crore. Nominal value per share is Rs 10

Board of Directors of Fortis Healthcare today, September 19, 2011, approved the acquisition of Fortis Healthcare CHR International Financial Services (Mauritius), a company owned by the promoters of Fortis Healthcare India.

The company said the new entity is one of the largest service networks in the Asia-Pacific. The assessment will be advised by an independent rating agency, appointed by a committee of independent directors in order. In addition, the Board decided, subject to necessary approvals, to change the name of Fortis Health Fortis Health India.

The new management structure will align the combined entity to manage global issues of Fortis Healthcare, including India. Malvinder Mohan Singh is the CEO of Fortis Healthcare, while Shivinder Mohan Singh is the executive vice president. Vishal Bali is the Global CEO of Fortis Healthcare. The India operations will be directed by Aditya Vij, India as its CEO, which will focus on expanding in India, while international trade will be chaired by Eng Aik Meng and will focus on all extensions outside India . Global functional heads will be responsible for key business functions of the combined entity.

Malvinder Mohan Singh, chairman of Fortis Healthcare, said: Our vision is to create a leadership position in providing integrated health care throughout the Asia Pacific region. This integration is a step in this direction. With an area of ‚Äč‚Äčincreasing urbanization, an aging population and greater access to new medical technologies, the demand for more and better health care has increased. Fortis seems to grasp this opportunity. This integration gives us a model and the opportunity to benefit from economies of scale.

Shivinder Mohan Singh, CEO of Fortis Healthcare India, said the new company to exploit the strengths and synergies to benefit from all functions, in particular by leveraging the group’s immense talent in health care. This further speeds up the growth Fortis’ throughout the region and help create a premier health care network services throughout the Asia Pacific region.

Fortis Healthcare (India) operates multi-specialty and super specialty hospitals that provide health care to tertiary and quaternary patients in major medical specialties.

Singapore-based Fortis Healthcare International Pte provides first-centered care in Asia and Australia. Corporate network of care is represented in nine countries, including Hong Kong, Australia, New Zealand, Singapore, Sri Lanka, Dubai, Vietnam, Mauritius andCanada.

On a consolidated basis, Fortis Healthcare (India) reported a net profit of 14.03 million rupees R in Q1 June 2011 compared to a net loss of Rs 14.31 million rupees in Q1 June 2010. Net sales rose 42.96% to Rs 478.34 million rupees in June 2011 in Q1 Q1 June 2010.


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