AS EVENING TURNS into night, Gurugram’s skyline lights up outside Dr Ashutosh Raghuvanshi’s window at Fortis Healthcare’s corporate office. Raghuvanshi exudes the quiet confidence of the seasoned cardiac surgeon that he is, but his scalpel of choice today is not surgical steel. As MD and CEO of Fortis Healthcare, Raghuvanshi’s strategic vision is at work, pulling the once-ailing healthcare giant back from the brink of insolvency.
Just five years ago, Fortis Healthcare was headed for the operation theatre with a clutch of issues—operational ones and legacy issues left by its former owners that led to legal battles. IHH, the Malaysian healthcare major now in control of Fortis, had a troubled entry.
But despite a shaky start in 2018-19, with IHH taking over on November 13, 2018, and then giving the helm to Raghuvanshi on March 18, 2019, and the unprecedented chaos of the Covid-19 pandemic that followed, upsetting routine operations at all hospitals, Fortis Healthcare has been showing signs of recovery.
Revenues and profitability are up; debt is down. Today, it has 27 hospitals and 4,500+ operational beds. Before IHH took over, Fortis closed 2017-18 with a loss of ₹934.42 crore on total revenue of ₹4,560.81 crore. Thanks to the leadership of Raghuvanshi, Fortis closed 2022-23 with a profit of ₹633 crore on total revenue of ₹6,298 crore. For the first nine months of the current financial year (2023-24), Fortis reported a profit after tax of ₹442 crore on total revenue of ₹5,107 crore.
PUTTING THE PAST BEHIND
Denne historien er fra April 14, 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 April 14, 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
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
