Fortis deal: Sunil Kant Munjal and Anand Burman said their bid will be beneficial for Fortis stakeholders and that it will lead to the availability of sufficient liquidity for the company. Image source: Zee Business
Hours after Fortis Healthcare board of directors approved the joint offer made by Hero Enterprise Investment Office and the Burman family for a controlling stake in the company, Sunil Kant Munjal and Anand Burman, in a candid talk with Zee Business's Nand Kumar Nair, said that their bid will be beneficial for Fortis stakeholders and that it will lead to the availability of sufficient liquidity for the company. The board of Fortis Healthcare has placed the offer proposed by the Munjal and the Burman families before the shareholders for their approval. Here are edited excerpts from the interview:
Q: From a shareholders perspective, I would like to know about the benefits of the deal and why you think that this is the best thing that is going to happen to Fortis?
A: Shareholders interest in the company lies in its performance, success and profit. Acceptance and implementation of the proposal will lead to liquidity in the company. At the same time, we hope that our experience in healthcare, corporate governance and handling of largescale businesses is going to help Fortis in almost all its endeavours ranging from patient experience, doctor experience or hospital administration. If all this is beneficial then naturally the company will benefit and any benefit to the company means gains for shareholders.
Q: There are problems related to the policies that govern the healthcare sector. Where do you see the healthcare sector in times to come? Can you say something about the kind of change that will happen in the sector?
A: Healthcare is a need of every citizen and it is the government that is responsible to provide these services to its citizens. Unfortunately, in many countries governments don't have the capacity to provide complete healthcare services to citizen. In this case, the private sector plays a major role and they act as a supplement to the government system. But there are patients who just want to go to the private hospitals.
The government, in the recent past, announced a big scheme to provide healthcare services to its citizens. Here lie growth opportunities for the private players as the government is not going to make the physical arrangement but will arrange the money for payment through an insurance scheme. So, new requirements will increase in the healthcare system in the country.
Q: Right now, you have 20 per cent stakes in Fortis. Dr Burman, would you like to inform about the first three steps that will be taken?
A: We have made plans for the next 100 days, as well as for the year ahead, but I would not like to discuss it for now. You will be informed about the same as soon as the deal is completed.
Q: Dr Burman, there is the demand for 3 seats on the Fortis board. That is already in the public sphere. Would you like to add something to that going forward?
A: We have a commitment to the healthcare sector and that is to provide the best value for money.
Watch this Zee Business video on Fortis deal
Q: Mr Munjal?
A: We will try our best to enhance the quality of care in the word of healthcare and look at everyone who walks into the hospital with empathy. As everyone, who walks into the hospital comes with a problem, we will try to address both the physical as well as the emotional problems of the person. Small things make a big difference.
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