New Delhi: Brothers Shivinder and Malvinder Singh, who sold family-run Ranbaxy Laboratories Ltd to Daiichi Sankyo Co. Ltd for Rs 10,000 crore in 2009, are completely focused on healthcare for now, but they could well move on once the business has grown in scale.
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“We have our internal segregation of roles and we have a clear intent that as this model gets set up and standardized, we will step out of this as well. So our intention is not to be here forever either,” Shivinder Singh, 36, managing director of Fortis Healthcare Ltd, said in an interview.
The brothers’ approach to acquisitions is entrepreneurial and once the new business has grown, they are open to exiting, he said, reflecting a new approach by family-owned businesses, the willingness to seek opportunities elsewhere.
“I am going to retire. I already got my successor for Fortis (India),” he said. “We would like to spend our time in something that we feel there is a value in what we do that others can’t do.”