Listing of Metropolis’s shares will provide a “stock currency” that can be used to fund acquisitions, managing director Shah said.
Manipal’s revised plan offered Fortis shareholders 155 rupees per share, up from 140 rupees earlier.
Life Healthcare is working with Barclays to explore potential interest in its 49.7% stake in Max Healthcare and could seek about $406 million for it.
The founders Singh brothers have been in talks with PE firms for the past year to sell their 34% stake in Fortis to pay down debt in their holding company.
Increasingly affluent — and rapidly aging — populations are demanding better care and investors are becoming more adventurous.
When Dilip Shanghvi wants something, he has a track record of getting it.
The chief executive officer of Asia’s largest vaccine maker is on a hunt for smaller rivals as he prepares for a bout of consolidation to hit the industry over the next few years.
Shanghai Fosun Pharmaceutical Group Co. agreed last month to acquire 86 percent of Indian injectable-drug maker Gland Pharma Ltd. for as much as $1.26 billion. Pfizer Inc. bought Hospira Inc., the biggest maker of these medicines, in September for about $17 billion including debt.