Fortis healthcare acquisition and its impact on financial performance

This news is relating to one of the leading health care service provider of our country Fortis health care.
Fortis health care, owned by billionaire brothers malvinder singh and shivender singh has recently bought TPG capital's 24% stake in singapore based healthacare provider parkway holdings limited for 3080 crore catapulting itself as the largest hospital chain in asia.
After selling india's largest drug company Ranbaxy to japan's Daiichi sankyo for 10000crore the singh brothers are aggresively expanding their healthcare and financial service businesses through a series of buy-outs. last month it bought US based wealth management firm North gate capital for $250 million. It had funded the deal by short term loans where several banks and non banking financial institutions have agreed to lend. Post the borrowings the Debt-equity ratio remain below 1:1. With this buyout the company have 62 hospitals(over 10000 beds) placing it significantly ahead of Chennai based Apollo Hospitals that runs 46 Hospitals(over 8000 beds). more over this deal could impact Apollo Hospitals existing joint venture with parkway holdings.
With this deal the company has moved a step closer towards its vision of becoming Global health care delivery network.