Renowned cardiologist Naresh Trehan was Friday removed from the post of executive director of Escorts hospital, a position he held for 20 years, for his "conflicting" interest in an upcoming multi-billion healthcare hub, Medicity.
"We have closed our relation with Dr. Trehan effective from Friday," S.M. Singh, managing director, Escorts and Fortis Healthcare Limited, told IANS.
Singh said Trehan has been focussing more on his self-promoted Medicity, an upcoming multi-disciplinary healthcare hub in Gurgaon, a satellite town of Delhi.
"There was a clear conflict of interest and we have been persuading him not to do so for the last two years. When nothing happened, we had to close the relationship," said Singh, adding that the move was because "we had to give some respect to our share holders".
Trehan, a pioneer of medical tourism in India, had helped to shape the Escorts Heart Institute and Research Center Limited (EHIRCL) into a premier institute.
He is now focussing on the Rs.10 billion Medicity, in which he is reported to have a personal stake. The healthcare hub, coming up along the lines of Dubai Health City, is expected to be the largest such centre in South Asia.
However, Trehan continues to be a 10 percent shareholder in Escorts, which was acquired by Ranbaxy-promoted Fortis Healthcare Limited in September 2005.