Fortis-Manipal merger valuation misunderstood due to deal complexity: Ranjan Pai

Manipal Education and Medical Group chairman Ranjan Pai has just struck the biggest deal of his career. The group's hospital unit, TPG-backed Manipal Health Enterprises Pvt. Ltd, is buying Fortis Healthcare Ltd in a Rs 15,000-crore ($2.3 billion) transaction to mark the biggest consolidation move in India's healthcare services sector. ......