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caution

September 3, 2009

Two Indian family businesses agreed last week one would acquire part of the other. The timing proved perfect for both Wockhardt and Fortis as each was facing growth-related difficulties, however other businesses should not take such risks, cautions Professor Kavil Ramachandran

Fortis Healthcare, the India-based family-controlled healthcare group, acquired 10 hospitals from the Wockhardt hospitals chain for $193 million last week. Wockhardt, another family business, sold at a price that was much lower than it had planned for a year ago at the time of a failed IPO. 

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