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Manipal eyes Medanta majority stakes

Oct 24, 2018 by The Passage Team
Manipal eyes Medanta majority stakes

The TPG Capital and Manipal Health Enterprises combine is in talks to buy a majority stake in hospital operator Medanta from heart surgeon Naresh Trehan and other investors, two people close to the development said.

“While the discussions are still on and it is yet to submit a bid, Manipal-TPG is likely to offer a valuation of INR 6,000 crore for Medanta,” one of the two people said, requesting anonymity.

TPG-Manipal is the only party that is actively pursuing Medanta after Malaysia’s IHH Healthcare Bhd withdrew its non-binding bid following its acquisition of the hospital business of crisis-ridden Fortis Healthcare Ltd in July, outbidding TPG-Manipal.

Source: Livemint

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