Fortis's Acquisition of Wockhardt Hospitals

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Case Details:

Case Code : BSTR357
Case Length : 17 Pages
Period : 2008-2009
Pub Date : 2010
Teaching Note :Not Available
Organization : Fortis Healthcare Ltd. / Wockhardt Hospitals Group
Industry : Healthcare / Hospitals
Countries : India

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"The acquisition is expected to provide operating synergies and unleash new opportunities for growth, apart from delivering pan India presence to Fortis."¹

- Fortis Healthcare Ltd., in August 2009.

"Fortis would probably gain a lot from this acquisition, with presence, expansion, and with so much profitability accruing. Fortis will have this readymade business coming to them at a time when there is a huge demand." ²

- Vikas Dandekar, chief pharma correspondent, PharmaAsiaNews.com³, in August 2009.

Fortis Gains a Pan-India Presence

On August 24, 2009, India-based Fortis Ltd. (Fortis), a hospital chain established by the promoters of Ranbaxy Laboratories Limited⁴ (RLL), acquired 10 hospitals of the Wockhardt Hospitals Group (Wockhardt Hospitals), a subsidiary of Wockhardt Ltd.⁵ (Wockhardt), for Rs.⁶ 9.09 billion.⁷

The deal included the three nursing colleges of Wockhardt Hospitals.

Fortis's Acquisition of Wockhardt Hospitals - Next Page>>

1] "Fortis buys Wockhardt Hosps for Rs 909 cr," www.indianexpress.com, August 25, 2009.
2] "Fortis-Wockhardt Hosp Deal Win-win for both: Pharma Asia," www.moneycontrol.com, August 24, 2009.
3] PharmaAsiaNews.com is a website that offers regulatory and business news related to the pharmaceutical and biotechnology industry. It covers India, China, and Japan.
4] Established in 1961, Ranbaxy Laboratories Ltd., based in New Delhi, India, is one of the largest pharmaceutical companies in India.
5] Wockhardt Ltd. was set up in the 1960s by Habil Khorakiwala as a biotechnology and pharmaceutical company in Mumbai, India.
6] As of November 2009, 1US$ = Rs. 46.29.
7] "Fortis to Spend Rs 9.09 bn to buy 10 Hospitals," http://economictimes.indiatimes.com, August 24, 2009.

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