India’s SRL Ranbaxy Said Merging With Religare Wellness
This article was originally published in PharmAsia News
Diagnostics maker SRL Ranbaxy is considering a merger with drug retailer Fortis HealthWorld before it makes an initial public offering, an effort to increase its value, according to an insider. Fortis HealthWorld just recently changed its name to Religare Wellness as part of an earlier rearrangement, and a Religare spokesman said, "there are no merger plans as of today." SRL, owned by Ranbaxy Laboratories, has a chain of pathological laboratories in India, and a merger with Religare would increase its IPO value by tying it with the latter's technology services and outsourcing business. (Click here for more
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