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The board of Fortis Healthcare, India's second largest healthcare provider on November 8 accepted the resignation of Bhavdeep Singh, Chief Executive Officer (CEO) of the company.
The hospital chain said Singh said: "The hospital chain said it was crystallized.
Singh said it is time for him to move on to Malaysia's IHH Healthcare is poised to take over the reins at Fortis as a majority shareholder in the coming weeks.
"After two very challenging years, the company is now a stable platform and can look forward to the future with optimism. The reality is that the challenges at the company of the past few years have not been allowed to do anything, I have to say, "Singh said in a statement from Fortis.
" That said, "I am very pleased that I am very pleased with the success of the past 12 months," Singh added.
Singh rejoined Fortis in July 2015 and the company through their difficult phase.
"Singh has been instrumental in building capabilities in the organization and delivering exceptional value through many industry firsts. viz. "Fortis said in a statement.
" During his tenure, Singh led multiple diligence and a series of capital raising initiatives. who worked with him on this process. Uncommon, "the statement added.
Singh, a US citizen was picked by Fortis' erstwhile promoters Singh brothers in February 2009 to run the hospital chain, which is expanding at a rapid pace. Singh resigned from the company in November 2010, citing family reasons. Ain P, Spencer's Retail and Reliance Fresh
Fortis board on July 13, 2018, unanimously approved a binding investment proposal from IHH to invest Rs 4,000 crore by way of preferential allotment . Capital raised would be primarily used for the acquisition of RHT Indian badets and infused capital into the company.
The deal got its last major approval from India's anti-trust regulator Competition Commission of India (CCI) last month.Early This week Fortis Chairman Ravi Rajagopal said, "With all the approvals pertaining to the Fortis IHH transactions are now in place and both organizations are working to complete the transaction expeditiously.
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