IHH 'resolute' on lifting Fortis' fortunes despite court rule

Singapore

IHH Healthcare is resolute on consolidating its hard-fought "transformational" buyout of Fortis Healthcare, which is facing yet another test after India's Supreme Court put the deal on hold following a petition filed by Japanese drugmaker Daiichi Sankyo against the Singh brothers - the Indian hospital's former promoters.

"This development does not in any way diminish our resolve and absolute commitment to return Fortis to growth," said IHH chief executive and managing director Tan See Leng in an internal memo dated Dec 16 that was issued to staff.

"We will continue to execute on our plans to stabilise Fortis and ensure that it achieves its full potential as part of the I…