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Mr.Shivinder Singh

Mr.Shivinder Singh

 Mr.Shivinder Singh  

Reading success stories of greatest professionals stimulates motivational enzyme within us and we all wish to emulate them on path of success.

Exactly with this aim  MBARendezvous.com - India's content lead MBA website is presenting you series of success stories of Professionals who have   carved niche in their own way and have become icons of Management Fraternity. 

Following above you will read today success story of Mr. Shivinder Singh  :  

Shivinder Singh is the younger son of Late Dr. Parvinder Singh and grandson of Bhai Mohan Singh, the founder of generic drug maker Ranbaxy Laboratories. He is one of the principal promoters of Fortis Healthcare. His passion is to create world`s best healthcare delivery companies based out of India, built on a foundation of strong value system and good work culture. Shivinder Singh and his brother are the Forbes Billionaire Business Tycoons of India. Their Net Worth is US $ 3.2 Billion according to Forbes 2010.He and his brother Malvinder Singh, are among the top twenty richest Indians in the world. 

Mr. Shivinder Singh did his schooling from the Doon School and he is an Honours Graduate in Mathematics from St. Stephens College, Delhi. Mr. Singh did MBA with specialization in health sector management from the Duke University’s Fuqua School of Business School, USA in 2000.

Mr. Shivinder Singh and his brother inherited the family's 33.5% stake in India's leading pharmaceutical company Ranbaxy Laboratories. That was more than five years ago because of the premature death of his father, Mr. Parvinder Singh. Since then the he and his brother have quite admirably managed themselves as well as the company. Although Ranbaxy's profits have taken a beating over the last 12 months the long range plans are very much on course. This year the brothers' private holdings are up.

Currently, Mr. Shivinder Mohan Singh is the Director of Ranbaxy Laboratories Limited. He is one of the principal promoters of Fortis Healthcare & SRL Ranbaxy. Mr. Singh is also the Jt. Managing Director of Fortis Healthcare Ltd. and Managing Director of Escorts Heart Institute & Research Center (EHIRC). Mr. Singh has been guiding the world's largest student driven organization AIESEC India as an Advisory Board Member and an Alumnus from his University Days.

Recently, he led the acquisition of Escorts Heart Institute & Research Center (EHIRC), the largest acquisition in the history of healthcare in India, to make Fortis the second largest healthcare network in India and the biggest cardiac program in the world. With this acquisition, Fortis has 10 operating hospitals with over 1600 beds in its network and is working on creating a network of over 25 hospitals with 5000 plus beds.

To most people, it remains unclear whether the suave and sophisticated Shivinder Singh and his brother are visionaries or mercenaries. The reason why people think that they are mercenaries is that the brothers inherited the company which was once considered as the original rock star of Indian pharmacy — from their father, the late Dr. Parvinder Singh. Late Dr. Parvinder was the kind of man who believed in long-term strategies and reveled in cracking open new markets. He showed his counterparts in the business how income can be earned in brutal markets like the US. To that extent, Ranbaxy was the Pole Star. 

But when the brothers thought it right, they sold the Pole Star and their father’s dream to Japan’s Dai-ichi Sankyo for Rs. 10,000 crore. Flush with funds, they have made fresh bets and a string of acquisitions. 

To figure what Mr. Shivinder Singh and his brother really are, one ought to look at their gene pool. As their father was the long -term player. And then there’s his youngest brother, the maverick Analjit Singh who spotted opportunities before others did, built businesses out of them, and sold them with equal aplomb if the time was right.

Malvinder and Shivinder seem to have inherited in equal measure from the both of them — their father’s long-term outlook and their uncle’s pragmatic world view. When looked at from that perspective, things fall into place. 

At Ranbaxy, growth was tapering off in the domestic market. In the US, it had enough troubles on its hands. In fact, soon after the brothers exited the company, the US Federal Drug Agency hit Ranbaxy with regulatory bans and Dai-ichi had to write down more than $2 billion in one time losses.

Since then, the brothers have shrugged off criticism and have focused on their new bets. Fortis Healthcare grew three times on the back of a string of acquisitions. With a market capitalization of Rs. 6,600 crore, it is now more valuable than their bigger and more profitable competitor, Chennai-based Apollo Healthcare. Religare Enterprises, their finance company is valued at Rs. 6,000 crore, making it the fourth largest in the industry. The brothers recently resigned from Religare’s board, prompting suggestions the company may be vying for a banking license.

They made a $2-billion hostile bid for Singapore-based hospital chain Parkway Holdings through their Fortis Healthcare. This bid put them on a head -on collision path with arch rivals Apollo Healthcare who was backing rival bidder Khazanah, an entity owned by the Malaysian government. If the acquisition had gone through, Fortis would have emerged as Asia’s largest healthcare network.  

A research report by a retail consultancy says that the hospitals business is growing annually at a compounded rate of 15 percent and that it will be worth $120 billion five years from now. To take advantage of the coming boom, they need to ramp up quickly. Most promoters in the business find themselves hamstrung by expensive real estate. That doesn’t concern the brothers because during the downturn they were sitting on cash and invested in cheap real estate, which they are now putting to good use. The focus right now is on building as many hospitals as fast as possible, before others catch up, and creating an easily replicable model.

When they took over a hospital from Wockhardt in Bangalore, a 12-member crack cardiac unit packed up and left. Senior doctors on the team packed experience in excess of 25 years on an average. The senior doctors on the replacement team that arrived had about 15 years average under their belt. While it bothers many, the brothers are clear that they can’t wait for top talent before they start to build the business out. Instead, they need to assemble the many pieces in both the businesses first with the fine tuning followed by the top talent. 

Companies that are being overviewed by Mr. Shivinder Singh and his brother are Fortis Hospitals, Religare Financial Services, Religare Technova, Religare Voyage and Religare Vistar Films.

The tearing hurry with which Mr. Shivinder Singh and his elder brother are putting their businesses together seems to have raised many eye brows. Are they playing a valuation game is a question most people have on their minds. The truth, once again, is ambiguous. 

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