Fortis Healthcare Appoints Indrajit Banerjee as Interim Chairman

This decision follows the stepping down of Ravi Rajagopal, the current Chairman and Independent Director, who will vacate the post on September 30, 2024.

Fortis Healthcare announced on Monday the appointment of Indrajit Banerjee as interim Chairman of the company, effective from October 1, 2024.

The company said in a regulatory filing that Banerjee, currently an independent director on the board, will hold the position until a permanent chairman is appointed.

This decision follows the stepping down of Ravi Rajagopal, the current Chairman and Independent Director, who will vacate the post on September 30, 2024.

Fortis Healthcare stated that it is in the process of evaluating potential candidates for the role of Independent Director, one of whom may assume the role of Chairman after securing the necessary corporate approvals.

In the meantime, Banerjee will lead the board as interim Chairman, ensuring continuity in leadership until a permanent successor is named.

Recent Development at Fortis Healthcare

Fortis Healthcare has applied to the Competition Commission of India (CCI) for approval to increase its stake in Agilus Diagnostics by acquiring an additional 31.52% from three private equity investors for INR 1,780 Cr.

This will raise Fortis's ownership in Agilus from 57.68% to 89.2%. Valued at INR 5,700 Cr, Agilus operates a network of diagnostic labs offering over 3,600 tests.

Fortis assured CCI that the acquisition would not adversely affect market competition in India, as part of its strategy to strengthen its position in healthcare diagnostics.

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