Why Sunil Munjal is keen to acquire Fortis
canada goose outlet jackets According to Munjal, there is an opportunity for somebody who comes from a not for profit background in health care to do something. canada goose outlet jackets
For Sunil Kant Munjal, canada goose uk shop who has joined the race for acquisition of private hospital chain Fortis along with the Burmans, health care is not an uncharted territory.
The Dayanand Medical College Hospital (DMCH) is run by a trust and Munjal serves as the president of this hospital. Besides, he owns a large general insurance distribution business that may find some synergy canadian goose jacket with his health care ambitions.
canada goose outlet factory have Canada Goose sale a personal interest in health care from the social impact angle and I have been involved in health care directly and so has been the Burman family in areas such as oncology. canada goose outlet factory
“For both of us, this seemed like an eminently inevitable thing to do, Munjal, chairman of Hero Enterprise, uk canada goose outlet told Business Standard.
canada goose outlet online store review He has said DMCH works with top establishments and undertakes research activities. canada goose outlet online store review
has excellent health care facilities, Munjal father Late B M Munjal was also associated Canada Goose Outlet with this hospital for a long time.
According to Munjal, there is an opportunity for somebody who comes from a not for profit background in health care to do something.
the scale is something that we understand well and we have done that across businesses, he said.
canada goose jacket outlet uk Munjal said his company was the largest distributor of insurance policies and it wrote over 10 canada goose uk outlet million policies last year. canada goose jacket outlet uk
“We now distribute https://www.gooseyou.com both life and health insurance. If the insurance distribution business is complementary with Fortis, we will work together but it will be in a transparent and arm length manner, he said.
canada goose outlet in toronto Munjal said India had canada goose clearance a crying need to improve the health care system in both quality and reach. canada goose outlet in toronto
is the responsibility of the government but it has not been able to do enough. So, the private health care system is supplementing the requirements. canada goose clearance sale started looking at Fortis last year and had approached the company canada goose black friday sale with an acquisition proposal.
canada goose outlet uk fake “When I first started looking at this last year, the process seemed very complex and no due diligence was allowed. canada goose outlet uk fake
“We have taken legal advice and we understand that there is no overhang of Daiichi case on this,” he said.
Japanese drugmaker Daiichi Sankyo had bought the share of promoters (Singh brothers) in Ranbaxy for Rs 95.76 billion 10 years ago.
canada goose jacket outlet It was found that critical information with regard to United States Food and Drug Administration (US FDA) probe was concealed. canada goose jacket outlet
While Ranbaxy has been sold to Sun Pharma, Daiichi has won an international arbitration worth Rs 3,500 crore.
Daiichi is against any deal that Fortis (also promoted by Singh brothers) may ink with a potential investor.
canada goose outlet price When asked whether he and the Burmans Canada Goose Online will remain a passive investor in Fortis (in case it acquires the company) or will actively run the business, Munjal said he buy canada goose jacket would do that conversation later. canada goose outlet price
“At present, our offer is that we want to become uk canada goose a bigger shareholder from being a minority shareholder and infuse capital in the company,” he said.
The Munjals and Burmans together hold 3 per cent stake in Fortis and have proposed a fund infusion of Rs 1,250 crore within a month if canada goose outlet the board accepts their acquisition proposal.
canada goose factory outlet Fortis has two more suitors Manipal Hospital Enterprises and Malaysia’s IHH Healthcare. canada goose factory outlet
Munjal said he had deep regards for both these companies but maintained that his and Burmans’ offer would ensure Fortis gets Rs 500 crore (of Rs 1,250 crore) to smoothly run the company within a day of offer acceptance.
Munjal has said the private health care sector has attracted criticism for being canada goose factory sale profit oriented.
“We must understand that the capex canada goose store is very high in setting up a hospital due to land, building, and equipment. That cost needs to be recovered. But one can create an environment that is more caring and nurturing”.
He said hospitals should be mindful of what was charged where.
canada goose jacket outlet toronto “Right now there is an active intervention from the buy canada goose jacket cheap government to control prices. We must Canada Goose online reduce costs it to the extent that it benefits customers but not push it down to an extent that it starts hurting them. We have to be careful and keep a balance.” canada goose jacket outlet toronto.