IHH Healthcare’s India subsidiaries: Fortis will manage five Gleneagles hospitals
IHH had bought 31.1 per cent stake in Fortis, in 2018. But its open offer to wrap up the transaction remains in a legal tangle, following an earlier transaction turning sour between former promoters of Fortis (erstwhile Ranbaxy’s Singh family) and Japanese drugmaker Daiichi Sankyo.
Malaysia’s IHH Healthcare Berhad has announced a collaboration between its India subsidiaries — Fortis Healthcare, a listed entity, and Gleneagles Healthcare India Private Limited — to pave the way for stronger business performance and sustainable growth, a note on the transaction said.
“Under an operation and maintenance services agreement, Fortis will manage the operations of five out of six hospitals under the Gleneagles India network,” the note said. This helps strengthen IHH’s pan-India healthcare platform “with enhance operational scale, clinical excellence, and geographical reach, while retaining their respective talent pool and autonomy in financial management,” the note said.
In an earlier interaction with businessline, IHH Healthcare Group Chief Executive Officer Dr Prem Kumar Nair had said, they would grow in India through their “twin engines” — the Gleneagles and Fortis chain of hospitals. On the latest collaboration, the healthcare-provider said, “It brings together complementary capabilities under a shared commitment to delivering high-quality, patient-centric care, while unlocking operational and financial synergies across both networks.” The agreement is conditional, depending acceptance and acknowledgement of relevant parties, it added.
Dr Prem Kumar Nair, said in a statement: “The O&M Services agreement reflects our commitment to long-term growth in one of our most important markets, by deepening collaboration that will enhance patient care and outcomes and drive greater operational efficiencies. With our shared commitment and complementary strengths, we are creating a comprehensive pan-India hospital network to meet the evolving healthcare needs of millions across the country.”
IHH had bought 31.1 per cent stake in Fortis, in 2018. But its open offer to wrap up the transaction remains in a legal tangle, following an earlier transaction turning sour between former promoters of Fortis (erstwhile Ranbaxy’s Singh family) and Japanese drugmaker Daiichi Sankyo.
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Published on July 23, 2025
