IHH Healthcare

The report includes an analysis and quantification of the damages that NTK suffered based on three scenarios, IHH said

IHH is in the midst of reviewing its strategy for China where its operations are currently loss-making

On Oct, 16, Northern TK Venture filed a claim against the Japanese pharmaceuticals manufacturer stating it caused losses to the company by preventing it from proceeding with open offers

The transaction is anticipated to be completed by the fourth quarter of 2023

IHH indicated last week that it was ready to go ahead with the stalled open offer if the capital markets regulator allowed it

Malaysia's IHH Healthcare on Thursday said Sebi has advised it to proceed with its stalled open offer to acquire 26.1 per cent market share in Fortis Healthcare only after obtaining order from the Delhi High Court. IHH Healthcare had acquired 31.17 per cent stake in Fortis by infusing fresh capital of Rs 4,000 crore in November 2018. The company is waiting for a go-ahead to proceed with its stalled open offer to acquire an additional 26.1 per cent stake in Fortis. The open offer, which was originally scheduled to commence on December 18, 2018 and close on January 1, 2019, entailing a total sum of Rs 3,300 crore, could not materialise due to a Supreme Court order. The apex court in September directed the Delhi High Court to consider appointing forensic auditors to analyse the transactions entered into by Fortis and other related transactions. "The Securities and Exchange Board of India (Sebi) has advised on November 16, 2022, that the Open Offers should be proceeded with after ...

After a bruising bidding war four years ago, Fortis has moved to pare its debt and expand modestly

Malaysia's IHH Healthcare on Friday said it is ready to proceed with its stalled open offer for 26.1 per cent stake in Fortis once capital markets regulator SEBI gives it a go-ahead. The company, which currently is the largest shareholder in Fortis with a 31.17 per cent stake, said it remains fully committed to Fortis and India. "We certainly understand the frustration Fortis investors have felt over the past four years around the uncertainty of the IHH open offer. With the recent Supreme Court judgement ruling making clear that we have conducted our investment into Fortis in a fair and transparent manner, we are discussing with Securities and Exchange Board of India (SEBI) to move ahead with the offer," IHH Healthcare Managing Director and CEO Kelvin Loh said in a statement. Should they concur and approve, IHH is ready to proceed with the open offer as soon as possible, he added. Loh said Fortis is IHH's key growth platform in India. "We are hopeful for a positive outcome so that

Will start rebranding Fortis as Parkway shortly: Fortis chairman Ravi Rajagopal

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Taking legal advice on next steps to pursue open offer for 26% stake in Fortis

Malaysia's IHH Healthcare is in discussions with relevant authorities in India to determine the next step for its stalled open offer for an additional 26.1 per cent stake in Fortis Healthcare, according to a company statement. The Supreme Court had last week ordered a forensic audit of the share sale of Fortis Healthcare to IHH Healthcare executed in 2018, in a contempt case filed by Japanese firm Daiichi Sankyo Company Ltd against the former promoters of Fortis, Singh brothers -- Malvinder and Shivinder, and others. In a statement, IHH Healthcare said the "Supreme Court has not found nor indicated any wrongdoing by IHH in terms of our investment into Fortis in its final order." The company said the Supreme Court has given a "direction to the High Court to inter alia consider issuing appropriate process and appointing forensic auditor(s) to analyse the transactions entered between Fortis and RHT and other related transactions". It further said that the order by the apex court ...

Health systems around the world are shifting focus from research and development to distribution

Board gives nod to raise Rs 1500 crore through QIP

Apollo Gleneagles, Kolkata, is a 50:50 joint venture between Apollo Hospitals and the Parkway Group, which is a part of IHH

IHH acquired 31 per cent stake in Fortis last July, after a four-month bidding war involving rival hospital chains and private equity firms

The Supreme Court held Fortis' founders -- Malvinder Singh and Shivinder Singh -- guilty of contempt of court

Earlier this week, the Manipal-TPG combine had also extended the validity of its modified offer for Fortis Healthcare to June 6, 2018