March 5, 2021

IHH to proceed to execute Fortis plan: Koji Nagatomi, India Chairperson Mitsui

IHH Healthcare Berhad’s acquisition of Fortis Healthcare has been caught in a logjam since December 2018 after the Supreme Court docket put the sale on maintain. Koji Nagatomi, India chairperson of Mitsui & Co., the biggest shareholder of IHH, advised ET that the corporate will proceed to execute its turnaround plan for Fortis Healthcare. Edited excerpts:

What do you consider your funding in IHH? Was it the proper choice?

IHH is a sexy automobile for us as a result of it has a powerful observe report throughout a number of nations in Asia of offering premium healthcare companies, making use of the newest healthcare applied sciences and using one of the best healthcare professionals. We consider that by rising IHH we will ship a major quantitative and qualitative enchancment within the provision of medical companies in Asia and assist to handle the urgent supply-demand hole.

How assured are you relating to your funding in Fortis, since you’re the largest shareholder?

Given the observe report of IHH’s progress throughout different areas, we’ve got confidence that IHH will proceed to execute the turnaround plan for Fortis Healthcare and we hope to see the constructive outcomes proceed.

What are your plans in healthcare in India?

Our different present investments within the Indian healthcare and pharma market embody Keimed (pharma distributor) and GOQii (well being platform). We view the Indian healthcare market as extremely engaging, notably the personal hospital sector, which accounts for 80% of the full healthcare market in India… we’ll relatively deal with IHH than search for extra investments, though we proceed to be eager to discover additional, given the large and rising market alternative within the Indian healthcare section general.

Do you suppose you must go gradual with different plans of funding associated to Fortis, on condition that the court docket is but to take a call?

We firmly consider in IHH’s world experience in turning round companies to profitability, as has been proven in its turnaround of Fortis Healthcare. We additionally stay dedicated to and are assured on the potential of the Indian market.