Ranjan Pai, managing director and chief executive at Manipal Health Enterprises Pvt. The statement puts a question mark on the impending Fortis-Manipal deal, already seeing resistance from Fortis Healthcare shareholders. Pai said that at this juncture, resistance from shareholders is likely to pose the biggest challenge to the deal. Fortis Healthcare, which was earlier not party to the Daiichi-Singh brothers arbitration case, was made a party to the present application by the court. The deal will catapult Manipal Health to pole position among India’s largest hospital chains, with a combined annual revenue of Rs5,400 crore.

Source: Mint April 09, 2018 22:41 UTC