The Hindu Business Line : Analjit open to hiking stake in Hutch

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New Delhi Feb 14 After quitting nine businesses and starting three new ones, Mr Analjit Singh, Chairman of the Max Group, seems to have slipped into the comfort zone of a "focused approach" rather than spreading himself out thin.

Just last month he decided to step back from the daily operations of his company, Max Healthcare, to take charge of governance, strategy and new businesses for the group.

The Hutchison Essar sale has led to speculation on his 7.58 per cent stake in the company.

While Vodafone has emerged the top bidder for the Hutch stake, and has offered partnership to Essar, Mr Singh may well be waiting in the wings. For, if Essar decides to exit the company, Mr Singh seems open to upping his stake in it.

While his role in the Vodafone-acquired company still remains to be seen, he reiterates that his three businesses will remain the core and his focus in the coming years.

"At Max I now see a different role for myself - of putting my mind to governance, review and new businesses," said Mr Singh, emphasising that what he is taking most seriously is the Vision 2000 charted out for Max India over five years ago. For him, it does not only mean financial value, but "constructed dreams built on some foundations."

He said that the life insurance and healthcare businesses have been built on different pillars and have been successful in reframing the general trend.

"We have demonstrated a new class of transparency and a new class of service. In insurance, we have been able to depict to the policyholder how each year of his investment will look in terms of returns. Our 10,000 insurance agents have been able to convey that a life insurance policy is bought for protection and not tax savings as the trend has been, so 40-45 per cent of our sales are on the protection platform."

In healthcare too, Mr Singh said, Max stands for ethical practices.

"The sector has been known for its unethical practices, hence when we started out we decided that this was one area we would be ruthless about. Hence, we concentrate on medical excellence and comfort of the patient."

Both businesses have been learning experiences. Max Healthcare started out with primary health centres in select colonies, but along the way shifted strategy to hospitals offering under a single roof primary, secondary and tertiary healthcare.

"We learnt that standalone primary healthcare centres do not attract the best physicians, who would rather offer the next step in treatment under the same roof."

But does this model not come in direct competition with that of his family (Ranbaxy, Fortis)? "My attitude is, it doesn't matter - they are competitors."

On the personal front, Mr Singh seems to be enjoying the stage he is in. He talks of his "five children" - two girls, a boy and two Golden retrievers who seem to enjoy a special bonding with him.

While daughter Pia is working at a Max hospital, Tara is studying management in the US and son Vir is committed to organic farming in Spain. Heirs apparent?

"They would be stakeholders, shareholders, but these are professional companies, not family-run businesses."

Hence, the youngest son of Ranbaxy's Bhai Mohan Singh, who from the beginning has been bent on charting out his own future, seems perfectly in tune with the competitive times.

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