Fortis to demerge hospitals business into Manipal
Mumbai: Fortis Healthcare has announced plans to demerge its hospitals business (Fortis Hospitals) into Manipal Hospital Enterprises Private Limited (Manipal Hospitals).
According to a statement issued on late Tuesday night, the company said that the proposed transaction is subject to shareholders' approval, creditor's approval, applicable regulatory approvals (including Competition Commission of India, SEBI, stock exchanges and National Company Law Tribunal (NCLT)) and other customary conditions precedent.
The company's board has also approved sale of its 20 per cent stake in SRL Limited (SRL) to Manipal Hospitals.
"The resultant entity Manipal Hospitals will be a publicly traded company listed on NSE and BSE. The remaining FHL will be an investment holding company with 36.6 per cent stake in SRL," the statement said.
"As part of the proposed transaction, Dr. Ranjan Pai and TPG will invest RS 3,900 crore into Manipal Hospitals."
As per the statement, the funds will be utilised by Manipal Hospitals to "finance the acquisition of 50.9 per cent stake in SRL (20.0 per cent from FHL and 30.9 per cent from other investors for which discussions are currently underway)".
"In addition, the investment will support the proposed acquisition of hospital assets owned by RHT Health Trust ("RHT") and the growth of the hospitals and the diagnostics businesses," the statement said.
Accordingly, the combination of Manipal Hospitals and Fortis Hospitals will result in the creation of the largest provider of healthcare services in India by revenue with 41 hospitals in India and 4 hospitals overseas.
"The hospitals' complementary geographic footprints and combined clinical strengths will provide significant scale, revenue and cost synergies," the statement added.
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Thumbay Group launches “Thumbay Cares” well-being program putting team members first
Ajman (UAE): Thumbay Group has launched “Thumbay Cares”, a comprehensive well-being programme aimed at improving the quality of life, career growth and long-term security of its team members across all its divisions. The announcement comes soon after the Group was officially certified as a “Great Place to Work” in the UAE for 2025–2026.
The Group employs more than 3,000 people from 56 nationalities, including over 500 doctors. With the launch of Thumbay Cares, the management said it is strengthening its focus on a people-first work culture by bringing together healthcare support, financial protection, education assistance, wellness initiatives, recognition and leadership development under a single umbrella.
According to the Group, Thumbay Cares is not limited to employee benefits but is designed as a long-term commitment to support team members in both their professional and personal lives. The programme has been introduced under the vision of Dr Thumbay Moideen, Founder President of Thumbay Group, who has consistently stressed the importance of investing in people to build sustainable institutions.
Speaking on the occasion, Dr Thumbay Moideen said that being recognised as a Great Place to Work reflects the organisation’s internal culture and values. He said the new programme takes this commitment further by ensuring that team members feel supported in health, growth and life, adding that when employees feel valued and secure, excellence follows naturally.
Under Thumbay Cares, team members will receive a range of healthcare and wellness benefits. These include free medical checkups at Thumbay Healthcare facilities, free blood tests at Thumbay Labs, free health insurance for all employees, quarterly body composition analysis through Body and Soul Health Club, complimentary health club membership, grooming and wellness services, as well as life and workmen’s compensation insurance. The Group said the focus is on preventive care, early diagnosis and overall well-being as part of everyday life.
The programme also places strong emphasis on education, professional growth and leadership development. Thumbay Group will offer merit-based scholarships for children of employees at Gulf Medical University and provide free next-generation leadership training through Thumbay College of Management and programmes in artificial intelligence in healthcare. These initiatives are aimed at creating clear pathways for career advancement and leadership roles within the organisation.
In addition, Thumbay Cares includes performance-based rewards, incentives, benefits for long-serving employees, annual bonus programmes and subsidised services across various Thumbay outlets. The Group said these measures are intended to recognise loyalty and contribution, while building a work environment where employees feel respected, rewarded and motivated to stay long term.
With the launch of Thumbay Cares, Thumbay Group said it aims to position itself not only as a leader in healthcare and education, but also as one of the region’s most people-centric organisations.
