It had acquired a 31.17% stake in Fortis Healthcare in 2018, while it bought a 73.4% stake in Global Hospitals in 2015 and later renamed it Gleneagles. IHH plans to increase bed capacity at its hospitals in India from 7,000 to nearly 10,000, says Prem Kumar Nair, Group CEO, IHH Healthcare. In an interview with Business Today's Neetu Chandra Sharma during a recent visit to India, Nair, 63, who took charge in October 2023, talks about IHH's M&A strategy, the opportunities in India, and exploring new markets, among other things.
Edited excerpts:
Q: How does IHH plan to leverage its investments in Fortis and Gleneagles to drive growth in India over the next five years?
A: IHH is one of the largest healthcare groups globally.
We operate more than 80 hospitals with a workforce of 70,000 across 10 countries. Historically, our founding markets were Singapore and Malaysia, with the Parkway and Pantai brands, which were later rebranded.
We then acquired Acibadem and took the company public. Fortis was our next major acquisition... As a physician, I can see that India performs a lot of advanced clinical work, such as robotics and complex transplants, with very good patient outcomes.
Fortis, in particular, has undergone significant transformation. Despite its past challenges, it is currently performing well operationally... Fortis has shed some less profitable assets, acquired new ones, particularly in the National Capital Region, and is expanding, with plans to add nearly 2,000 more beds over the next five years. We have also recapitalised Gleneagles, which is almost entirely under our control now, and we are expanding several of its facilities.
Q: What are the opportunities the Indian market offers? What is your growth strategy, including inorganic growth?
Denne historien er fra November 24, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 24, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Decolonising the Walls
ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.
CHOOSING THE CHAMPIONS
The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.
'INDIA IS AT AN EXTREMELY SWEET SPOT'
The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more
FROM CRISIS TO TRIUMPH
Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing
AT A CROSSROADS
BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.
EXPANSIVE VISION
Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach
THE OUTLIER
ICICI Bank is effecting a cultural shift to win over more customers. With a focus on service excellence and valuedriven engagement, the strategy is delivering impressive results
MAHA GROWTH
THERE ARE VERY few turnaround stories in the banking sector, particularly among mid-sized banks.
SMALL WONDER
With a strategic push towards low-cost deposits, this small bank is betting on the lucrative retail and MSME segments
