Biography of Mr. Shivinder Singh
Shivinder Singh, the youngest son and grandson of Dr. Parvinder Singh, is the founder of Ranbaxy Laboratories. Fortis Healthcare is his main supporter. His passion is building the best healthcare delivery businesses in India. He believes that India has the potential to become the most successful nation. His brother Shivinder Singh and his brother Malvinder Singh are Forbes billionaire business tycoons in India. Forbes 2010 estimated their net worth at US$ 3.2 billion. He and Malvinder Singh are among the twenty richest Indians.
Shivinder Singh attended Doon School and is an Honors graduate in Mathematics from St. Stephen's College. In 2000, Mr. Singh completed his MBA at Duke University's Fuqua School of Business School with a specialization in Healthcare Sector Management.
His brother, Mr. Shivinder Singh, and inherited the family's 33.5% stake in Ranbaxy Laboratories, India's largest pharmaceutical company. It was five years ago, after the death of his father Parvinder Singh. He and his brother have been doing a great job running the company ever since. While Ranbaxy has seen its profits take a hit in the past 12 months, long-term plans remain on track. The brothers' private holdings have grown this year.
Ranbaxy Laboratories Limited currently Mr. It is headed by Shivinder Mohan Singh. He is one of the main promoters of Fortis Healthcare & SRL Ranbaxy. He is also Jt. Managing Director of Fortis Healthcare Limited. Managing Director of Escorts Heart Institute and Research Center (EHIRC). As an alumnus of his university days, Mr. Singh heads AIESEC India, the world's largest student-based organization, Advisory Board Member (since 2000) and Alumni (since 2001).
He was instrumental in the recent acquisition of Escorts Heart Institute & Research Center, the largest Indian healthcare network and largest cardiac program. Fortis now operates 10 hospitals with more than 1600 beds and is currently working to create a network of 25 additional hospitals with at least 5000 beds.
Many are not sure whether the sophisticated Shivinder Singh and his younger brother Parvinder Singh were visionaries or mercenaries. People consider themselves mercenaries because the brothers inherited the company from their father, Dr. Parvinder Singh -- once a rock star in Indian pharmacy. Late physician Dr. Parvinder was a believer in long-term strategies. He also enjoys opening new markets. He demonstrated to his colleagues in the business how you can generate income in tough markets like the US. Ranbaxy is the pole star.
The brothers decided it was the right thing to do and sold their father's dream, Pole Star, to Japan's Dai-ichi Sankyo. For this Rs. 10,000 crores. They made a series of purchases along with new bets by raining cash.
One has to look at the genetic group to determine who is Mr. Shivinder Singh and who is his brother. Their father was a long-time player. His younger brother, Analjit Singh, was maverick and saw opportunities before anyone else, created businesses out of them, and then sold them as equals when the time was right.
Malvinder Shivinder and Shivinder seem to have taken equal amounts from both their father and uncle -- their practical outlook on life and their father's long-term outlook. Things fall into place when you look at them from this perspective.
Ranbaxy has experienced a slowdown in domestic growth. It has enough problems in the US. The brothers left the company shortly after. In fact, the US Federal Drug Agency targeted Ranbaxy with bans and Dai-ichi was forced to write off over $2 billion in one-time losses.
Since then the brothers have remained positive and focused on their new ventures. Fortis Healthcare tripled in size due to a series of acquisitions. The company's market capitalization is Rs. It is now Rs. 6,600 crore more than its larger and more profitable rival, Chennai-based Apollo Healthcare. Their finance company Religare Enterprises is valued at Rs. It is the fourth largest in the industry, valued at Rs. 6,000 crores. Religare recently announced that the brothers have resigned from its board. This led to speculations that Religare was trying to get a banking license.
Through Fortis Healthcare, they made a $2-billion bid for Singaporean hospital chain Parkway Holdings. They have clashed with their main rivals, Apollo Healthcare, which is backed by Khazana, a Malaysian state-owned company. Had the acquisition gone through, Fortis would have been Asia's largest healthcare provider.
According to a research report from a retail consulting firm, the hospital business is growing at a compound rate of 15 percent annually and will reach $120 billion in five years. They need to accelerate their growth to take advantage of the boom. High cost of real estate is a major problem for many promoters. The brothers don't worry about this because they had cash during the recession and they invested in cheap real estate, which they now take advantage of. The current focus is to build as many hospitals as possible and create a replicable model before other countries catch up.
A 12-member cardiac unit had to leave Bangalore's Wockhard Hospital after it was taken over. The team's senior doctors have an average of more than 25 years of experience. The senior doctors who make up the replacement team have an average of 15 years of experience. While this may be troubling to many, the brothers insist on not waiting for top talent before building a business. They must first put the pieces together and then fine-tune them with the finest talent.
Religare Financial Services and Religare Voyage are some of the companies Mr. Shivinder Singh, his brother and Fortis Hospitals are looking at.
The rush of Mr. Shivinder Singh's elder brother to merge their businesses has raised many eyebrows. Many are asking themselves if they are playing the valuation game. Again, the truth is unclear.
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