Fortis Healthcare Ltd, an established chain of super speciality hospitals based in Delhi, is pleased to announce the appointment of Udai Dhawan, a Standard Chartered Private Equity India Head and Managing Director, as an additional director on the board of directors.
The appointment is effective from February 11, 2014, which is in pursuance of SCPE’s agreement with the Company, the disclosure said.
Earlier in September last year, Standard Chartered Private Equity Mauritius III Ltd had invested Rs 37.7 crore in Fortis Healthcare afresh in a preferential allotment, raising its total investments to around Rs 250 crore in the healthcare company.
Also, Fortis Healthcare’s executive director Balinder Singh Dhillon has stepped down from the board of the company, effective February 11, 2014. He will, however, continue as President of the Governance Function.
Meanwhile, the private hospital chain posted a decline of 45 per cent in its consolidated net profit for fiscal third quarter ended on December 31, 2013, to Rs 389.09 crore from Rs 705.03 crore in the year ago period, despite one-time gain of Rs 424.16 crore due to stake dilution in Quality Healthcare primary care business in Hong Kong.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Fortis Healthcare Ltd, Delhi, India, Standard Chartered Private Equity India, Udai Dhawan, Standard Chartered Private Equity Mauritius III Ltd, Balinder Singh Dhillon, Hong Kong.