Fortis has not been doing well in the last 12-18 months: CEO Bhavdeep Singh

He added that they haven't been able to focus on the business due to an internal issue, especially with regard to the promoters

A day after Fortis hospitals inked the deal with Manipal Hospitals and TPG for the merger of its hospitals business, Bhavdeep Singh, the CEO of Fortis Healthcare said that Fortis Hospitals’ valuation has been lower than Manipal’s because Manipal has been doing better than Fortis. 

Interacting with journalists, Singh said that "In the recent past, Fortis has not been doing well while Manipal has been growing in the last 18 months which is why our valuations are low."
 

Hospital business of Fortis has been valued at Rs 50 billion, Manipal has had a valuation of Rs 60 billion.

He added