Essay --

FORTIS: GROWTH AT BREATHTAKING PACE "We want to be big," How big? "No clue how big†¦,"...just... big." 1 Shivinder Mohan Singh (2001) â€Å"The opportunity [in India] is large but we don’t want to be limited to being a healthcare player confined to a market†. â€Å"Compare a US$500 billion Asian healthcare market with a US$50 billion Indian market. I clearly see a lot more opportunity and a lot more growth happening in international markets.† Malvinder Mohan Singh (2011) â€Å"We have intensified our focus on India as we see strong demand for healthcare delivery services in the country over the next many decades† Malvinder Mohan Singh (2013) Fortis which began as a single hospital with 300 beds in Mohali in the year 2001 is a fast growing integrated service provider in Asia. The healthcare verticals of the company span diagnostics, primary care, day care specialty and hospitals, with an asset base in 7 countries, many of which represent the fastest-growing healthcare delivery markets in the world. The company operates its healthcare delivery network in Dubai, Hong Kong, India, Mauritius, Singapore, Sri Lanka, and Nepal with 76 hospitals, 12,000 beds, 600 primary care centers, 191 day care specialty centers, 230 diagnostic centers and a talent pool of over 23,000 people. Fortis is managed by erstwhile promoters of Ranbaxy Laboratories – Malvinder Mohan Singh (Non-Executive Chairman) and Shivinder Mohan Singh (Managing Director). The promoters have a strong background in the pharmaceutical industry and more than a decade of experience in the healthcare services industry. Shivinder Singh looks after the Indian operations as the Managing Director of Fortis Healthcare (India) Ltd. Malvinder Singh runs the Singapore-based Fortis Healthcare In... ... a fairly aggressive expansion before 2009, they are not relying on debt for expansion as before. The Mumbai project was financed with internal accruals. Wockhardt chose to build the Mumbai and Delhi hospitals one after the other and not simultaneously, so as not to put pressure on its cash flows. Wockhardt Hospitals is determined not to repeat its mistakes as it expands again. Industry leaders Fortis and Apollo Hospitals are far ahead of Wockhardt. But Wockhardt is not targeting scale, nor do they wish to be a pan-India player. The company plans to focus on Maharashtra and Gujarat, and Tier-II cities. The company’s current strategy is being a niche player which makes business sense. Having a regional focus has logistical benefits - it is easier to move doctors from one hospital to another in times of emergency. â€Æ' â€Æ' Appendix 5: Fortis stock price