The Hero of a cliffhanger: What went behind the battle for Fortis
Liquidity and certainty were the reasons that made the Fortis board of directors pick the offer proposed by Munjal and the Burmans. (Source: The Economic Times)
Source: The Economic Times - May 11, 2018 Category: Consumer Health News Source Type: news

Manipal-TPG disappointed with Fortis decision to choose Munjal-Burman bid
“After many months of engagement with Fortis, including due diligence, we are disappointed that the board has come to this conclusion," stated Ranjan Pai of Manipal Health Enterprises. (Source: The Economic Times)
Source: The Economic Times - May 11, 2018 Category: Consumer Health News Source Type: news

Liquidity and certainty main reasons for choosing Munjal-Burman bid, says Fortis
The board recommended the Munjal-Burman bid on Thursday as the best offer for the country's second largest hospital chain. (Source: The Economic Times)
Source: The Economic Times - May 11, 2018 Category: Consumer Health News Source Type: news

Hope shareholders see merit in our offer: Sunil Munjal of Hero Enterprise after winning Fortis bid
Speaking to the media after the Fortis Healthcare's board approved their bid late last night, Sunil Munjal said that both of them -- Munjals and Burmans -- have extensive experience in healthcare. (Source: The Economic Times)
Source: The Economic Times - May 11, 2018 Category: Consumer Health News Source Type: news

Hero-Dabur emerge victorious in the battle for Fortis Healthcare
The offer, if approved by shareholders, would see the Munjal-Burman combine infusing a total of Rs1,800 crore into Fortis through preferential allotment. (Source: The Economic Times)
Source: The Economic Times - May 10, 2018 Category: Consumer Health News Source Type: news

Fortis board chooses Munjal-Burman bid as the winner
The offer, if approved by shareholders, would see the Munjal-Burman combine infusing a total of Rs1,800 crore into Fortis through preferential allotment. (Source: The Economic Times)
Source: The Economic Times - May 10, 2018 Category: Consumer Health News Source Type: news

York Capital Management ups stake in Fortis to 6.25% ahead of board meet
York Capital Management's acquisition gives it 6.25% of the share capital carrying voting rights in Fortis Healthcare Ltd, the Indian healthcare group told the Bombay Stock Exchange. (Source: The Economic Times)
Source: The Economic Times - May 10, 2018 Category: Consumer Health News Source Type: news

Fortis race to conclude today; IHH may take lead
At the time of writing, the Fortis board is locked in a room on the fifth floor of Fortis Memorial Research Institute in Gurgaon scrutinising the proposals. (Source: The Economic Times)
Source: The Economic Times - May 10, 2018 Category: Consumer Health News Source Type: news

Chinese medical devices maker forays into Indian market
Established in 1999, Lepu Medical specialises in developing, manufacturing and distribution of high-tech medical devices, equipment, mobile medical services and pharmaceuticals. (Source: The Economic Times)
Source: The Economic Times - May 10, 2018 Category: Consumer Health News Source Type: news

Clinical trials by pharmaceutical companies still gasping for transparency
Data available in the public domain shows Malpani Hospital has conducted over 40 clinical trials for osteoarthritis and rheumatoid arthritis. (Source: The Economic Times)
Source: The Economic Times - May 10, 2018 Category: Consumer Health News Source Type: news

Four Fortis directors facing removal justify actions ahead of EGM
On April 18, a group of minority shareholders in Fortis Healthcare sought an Extraordinary General Meeting to remove four members of the board. (Source: The Economic Times)
Source: The Economic Times - May 9, 2018 Category: Consumer Health News Source Type: news

Change in Fortis' board at this juncture will lead to turbulence: FHL directors
The Board members said this in a representative note to a resolution filed by a minority shareholders' group to remove them from the company's Board. (Source: The Economic Times)
Source: The Economic Times - May 9, 2018 Category: Consumer Health News Source Type: news

Fortis board members justify their actions ahead of EGM seeking their removal
On April 18, a group of minority shareholders in Fortis Healthcare sought an Extraordinary General Meeting to remove four members of the board. (Source: The Economic Times)
Source: The Economic Times - May 9, 2018 Category: Consumer Health News Source Type: news

CDSCO increases WHO GMP certificate to three years for ease of doing business
The certificate was earlier valid for two years, said Drug Controller General of India Eswara Reddy during the 6th annual International Exhibition of Pharma and Healthcare (iPHEX) on Tuesday. (Source: The Economic Times)
Source: The Economic Times - May 8, 2018 Category: Consumer Health News Source Type: news

Our offer will be fastest to implement: Sunil Kant Munjal on Fortis bid
Munjal of Hero Enterprise and the Burman family of the Dabur group upped their proposal to invest INR 1,800 crore from Rs1,500 crore directly into Fortis. (Source: The Economic Times)
Source: The Economic Times - May 7, 2018 Category: Consumer Health News Source Type: news

Latest bid for India's Fortis "more risky", says Manipal CEO
Indian businessmen Sunil Munjal and Anand Burman have also offered to buy a stake in Fortis at 167 rupees a share as part of their offer totalling 18 billion rupees. (Source: The Economic Times)
Source: The Economic Times - May 7, 2018 Category: Consumer Health News Source Type: news

Tata Trusts to set up Cancer Care Hospital in Bhubaneswar
Apart from the apex hospital, the state government also entered into partnership with the Tata Trusts for a comprehensive cancer care programme under which the district level hospitals and medical colleges will be equipped to provide better cancer care. (Source: The Economic Times)
Source: The Economic Times - May 7, 2018 Category: Consumer Health News Source Type: news

Delhi govt likely to announce policy to put a cap on hospitals' profits this week
The policy aims to cap profit margins of hospitals. A first for any state, it will cover sale of medicines, consumables and devices to patients. (Source: The Economic Times)
Source: The Economic Times - May 6, 2018 Category: Consumer Health News Source Type: news

Manipal-TPG revises offer for Fortis Healthcare, values group at Rs 8,358 crore
Manipal-TPG have also proposed to merge MHEPL into Fortis Healthcare (FHL) and have valued the latter at Rs 8,358 crore for the same. (Source: The Economic Times)
Source: The Economic Times - May 6, 2018 Category: Consumer Health News Source Type: news

Manipal-TPG revises offer for Fortis Healthcare, values group at Rs8,358 crore
Manipal-TPG on Sunday told Fortis that they will infuse the Rs2,100 crore into FHL by way of preferential allotment. (Source: The Economic Times)
Source: The Economic Times - May 6, 2018 Category: Consumer Health News Source Type: news

Delhi govt likely to put a cap on hospital profits this week
The panel has suggested the package rates should be transparent and take into account possible complications that may arise during treatment. (Source: The Economic Times)
Source: The Economic Times - May 6, 2018 Category: Consumer Health News Source Type: news

Fortis shareholders approve acquisition of RHT Health Trust assets
In a regulatory filing, the company said 98.32 per cent of the shareholders who participated in the process voted in favour of the resolution, while 1.67 per cent voted against it. (Source: The Economic Times)
Source: The Economic Times - May 5, 2018 Category: Consumer Health News Source Type: news

India's public health is a 'mixed story': Bill Gates
Gates said that though India has made progress in almost every area of public health, there is still a long way to go in some areas related to child health. (Source: The Economic Times)
Source: The Economic Times - May 5, 2018 Category: Consumer Health News Source Type: news

Arpwood Capital to advise Fortis Healthcare on deal
Arpwood is expected to provide its independent opinion on present or future offers received from bidders for a potential "significant" equity investment, acquisition or restructuring of Fortis' assets. (Source: The Economic Times)
Source: The Economic Times - May 4, 2018 Category: Consumer Health News Source Type: news

I have full faith in Indian institution of corporate governance, says IHH CEO
“The hospitals belonging to Fortis can give a lot of value considering their presence. Even on an international scale, it is well known,” he said. (Source: The Economic Times)
Source: The Economic Times - May 4, 2018 Category: Consumer Health News Source Type: news

IHH MD Tan See Leng says Fortis & SRL will aid local, global play
“The hospitals belonging to Fortis can give a lot of value considering their presence. Even on an international scale, it is well known,” he said. (Source: The Economic Times)
Source: The Economic Times - May 4, 2018 Category: Consumer Health News Source Type: news

The bid for Fortis may get hostile
In the ongoing tug off war between these deep-pocket bidders — IHH and TPG — the proposed valuation may shoot up well beyond Rs 185 a share. (Source: The Economic Times)
Source: The Economic Times - May 3, 2018 Category: Consumer Health News Source Type: news

Manipal-led bid for Fortis faces objections: Sources
Such a move risks complicating the bidding process for Fortis, which has drawn bids and investment offers from five firms and investment groups keen to either buy. (Source: The Economic Times)
Source: The Economic Times - May 2, 2018 Category: Consumer Health News Source Type: news

KKR backed Radiant says will not revise its bid before due diligence
Abhay Soi, MD Radiant, said that it will infuse cash into the company by purchasing single asset, and this binding offer can precede post due diligence offers. (Source: The Economic Times)
Source: The Economic Times - May 1, 2018 Category: Consumer Health News Source Type: news

India rejects U.S. request on price caps on medical devices: Sources
The medical device manufacturers argue that India's price control mechanism hurts innovation, profits and future investment, and the USTR described India's policy as "very troubling". (Source: The Economic Times)
Source: The Economic Times - May 1, 2018 Category: Consumer Health News Source Type: news

IHH sweetens bid for Fortis, offers Rs 175 per share
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices. (Source: The Economic Times)
Source: The Economic Times - May 1, 2018 Category: Consumer Health News Source Type: news

Race for Fortis: Hero's SK Munjal and Dabur's Burmans revise bid, offer Rs 1,800 crore to sweeten deal
Including the warrant subscription amount, their upfront investment would be Rs 1,050 crore. The offer is valid until May 15. (Source: The Economic Times)
Source: The Economic Times - May 1, 2018 Category: Consumer Health News Source Type: news

Fortis receives revised offer from Malaysia's IHH at Rs 175 per share
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices. (Source: The Economic Times)
Source: The Economic Times - May 1, 2018 Category: Consumer Health News Source Type: news

Munjal-Burmans bat for level playing field in Fortis bidding
Fortis Healthcare yesterday said its board will meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee (EAC). (Source: The Economic Times)
Source: The Economic Times - April 30, 2018 Category: Consumer Health News Source Type: news

Fortis should not give "unfair advantage" to any bidder, say Hero's Munjal and Dabur's Burmans
The statement follows the Fortis board's announcement that Manipal-TPG would be given until May 6 to submit a revised offer in case of any new or modified binding bids for the company. (Source: The Economic Times)
Source: The Economic Times - April 29, 2018 Category: Consumer Health News Source Type: news

Government to demarcate 'stem cell therapy' from 'stem cell drug'
The proposed amendments would demarcate 'stem cell- based drugs' from the 'stem cell therapy' and ensure that the physicians using the latest medical technique in treatment is not legally inconvenienced. (Source: The Economic Times)
Source: The Economic Times - April 29, 2018 Category: Consumer Health News Source Type: news

Fortis Healthcare to review recommendations for a deal on May 10
Fortis has so far attracted binding offers from Manipal-TPG, IHH Healthcare Bhd, Hero Enterprises Investment Office-Burman Family Office and Radiant Life Care-KKR. (Source: The Economic Times)
Source: The Economic Times - April 28, 2018 Category: Consumer Health News Source Type: news

Fortis appoints three new directors; EGM on May 22
Fortis minority shareholders National Westminster Bank Plc, East Bridge Capital Master Fund Ltd and East Bridge Capital Master Fund Ltd had nominated the three to join the board. (Source: The Economic Times)
Source: The Economic Times - April 28, 2018 Category: Consumer Health News Source Type: news

Abbott India stops importing Xience Alpine stents
Abbott becomes the first company to officially stop imports of the drug-eluting cardiac stents on account of the price curbs. (Source: The Economic Times)
Source: The Economic Times - April 27, 2018 Category: Consumer Health News Source Type: news

Fortis board delays deliberation on deal, seeks to appoint three independent directors
The board has now asked Chakraborty, Rajagopal and Banerjee to attend its meeting on Friday, “subject to their acceptance towards the same”. (Source: The Economic Times)
Source: The Economic Times - April 26, 2018 Category: Consumer Health News Source Type: news

No decision today on Fortis bids
The timing of her resignation raises questions as it comes on the eve of the deadline for the committee to submit its non-binding recommendations to the Fortis board. (Source: The Economic Times)
Source: The Economic Times - April 26, 2018 Category: Consumer Health News Source Type: news

New twist in Fortis fight: Renuka Ramnath resigns from panel reviewing offers
Multiples Equity founder Renuka Ramnath submitted her resignation from the expert advisory committee “due to her pre-occupation.” (Source: The Economic Times)
Source: The Economic Times - April 25, 2018 Category: Consumer Health News Source Type: news

Radiant, IHH submit binding offers for Fortis, Manipal-TGP revises bid
IHH ’s revised offer proposes an “immediate injection” of primary equity, without due diligence, by preferential issue and allotment of equity shares at Rs. 160/share. (Source: The Economic Times)
Source: The Economic Times - April 25, 2018 Category: Consumer Health News Source Type: news

IHH submits binding offer to infuse Rs 650 crore into Fortis
Manipal-TPG combine and Munjals and Burmans were the only two groups which had made binding offers out of total of five suitors in race. (Source: The Economic Times)
Source: The Economic Times - April 24, 2018 Category: Consumer Health News Source Type: news

KKR-backed Radiant Life Care to make binding bid for Fortis tomorrow
According to industry sources, Radiant, which runs a chain of three hospitals, is expected to reconsider its non-binding proposal and sweeten it up to stay in the race. (Source: The Economic Times)
Source: The Economic Times - April 24, 2018 Category: Consumer Health News Source Type: news

Malaysia's IHH makes binding offer to invest Rs 650 crore in Fortis
Manipal-TPG combine and Munjals and Burmans were the only two groups which had made binding offers out of total of five suitors in race. (Source: The Economic Times)
Source: The Economic Times - April 24, 2018 Category: Consumer Health News Source Type: news

IHH Healthcare revises offer for India's Fortis
The new offer includes an immediate infusion of 6.50 billion rupees ($98.00 million) and a non-binding proposal for a subsequent infusion of up to 33.50 billion rupees, IHH said. (Source: The Economic Times)
Source: The Economic Times - April 24, 2018 Category: Consumer Health News Source Type: news

Munjals, Burmans extend validity of 'improved binding offer': Fortis Healthcare
The 'improved binding offer' replaced their original offer made to the Board on April 12, 2018 to invest Rs 1,250 crore directly in Fortis Healthcare. (Source: The Economic Times)
Source: The Economic Times - April 23, 2018 Category: Consumer Health News Source Type: news

SRL Diagnostics looks to increase retail presence in Kolkata
The expansion in Kolkata is part of the company ’s plans to improve its focus on patient care and to open new centres across the country in the near future. (Source: The Economic Times)
Source: The Economic Times - April 23, 2018 Category: Consumer Health News Source Type: news

Clouds over Fortis Healthcare keep suitors from making higher bids
Fortis, with around 30 hospitals, an established brand and good roster of doctors, is a rare and attractive asset in a market that is growing strongly. (Source: The Economic Times)
Source: The Economic Times - April 23, 2018 Category: Consumer Health News Source Type: news