Medanta

Medanta is an Indian chain of multi-specialty medical institutes based in Gurgaon in the National Capital Region of India.[1][2] Medanta was started in 2009 with one institute, Medanta - The Medicity in Gurgaon, with cardiac surgeon Naresh Trehan[3] as its main director along with co-founder Sunil Sachdeva. The chain has since expanded its outreach to other cities including Delhi, Lucknow, Indore, Ranchi and Patna.[4][5]

Medanta
TypePrivate
IndustryHealthcare
Founded2009; 12 years ago (2009)
FounderNaresh Trehan
HeadquartersGurgaon, Haryana,
Areas served
India
Services
Websitewww.medanta.org

InvestorsEdit

US-based PE firm Carlyle Group acquired a 27% stake in Medanta from US-based Avenue Capital Group in 2013 at a valuation of US$600 million (Rs 3,540 crore in 2013).[6] In 2015, Singapore-based Temasek Holdings purchased a 18% stake from Punj Lloyd. Trehan and his family, along with Sachdeva, own the remaining stake in Medanta.[7]

In 2019, it was reported that TPG Capital and Temasek Holdings-backed Manipal Hospitals Group submitted a binding offer of Rs 5,800 crore[8] for purchase of shares in Medanta.[9] However, as of August 2019, the deal did not go through due to a disagreement over the company's valuation between the two parties.[10]

AllegationsEdit

The Enforcement Directorate (ED) has filed a money-laundering case against Medanta Hospital, its chairman Dr. Naresh Trehan and a few Haryana government officers for alleged irregularities in the allotment of land to the hospital in 2004.[11]

The claims have been denied by the hospital stating them to be "irresponsible and frivolous accusations".[12] The hospital has questioned the credibility of Raman Sharma, who has been accused of extortion in 2015 and has an FIR registered against him in Faridabad.[13]

ReferencesEdit

  1. ^ "Gurgaon hospital scores a first with robotic surgery It is now being replaced by a 5 star hotel made by Manipal hotels". The Times of India. 20 November 2010. Archived from the original on 30 December 2013. Retrieved 24 April 2012.
  2. ^ "Medanta has no effect on competitors". Sify. 11 March 2010. Archived from the original on 7 March 2014. Retrieved 23 April 2013.
  3. ^ "Magic of Medanta". Financial Express. 19 July 2010. Retrieved 23 April 2013.
  4. ^ [1]
  5. ^ "Medanta has no effect on competitors". Sify. Archived from the original on 7 March 2014. Retrieved 25 November 2014.
  6. ^ Balakrishnan, Reghu; PM, Indulal (27 May 2019). "Manipal Hospitals to buy Medanta in Rs 5,800 crore deal". The Economic Times. Retrieved 3 October 2019.
  7. ^ "TPG Capital-Manipal set to seal Medanta deal". mint. 12 June 2019. Retrieved 26 November 2020.
  8. ^ Balakrishnan, Reghu (29 April 2019). "With Rs 5,800 crore offer, Manipal Hospitals closes in on Medanta buyout". The Economic Times. Retrieved 29 April 2019.
  9. ^ Balakrishnan, Reghu; PM, Indulal. "Medanta: Manipal Hospitals to buy Medanta in Rs 5,800 crore deal". The Economic Times. Retrieved 13 October 2020.
  10. ^ "Rs 5,800 cr Medanta-Manipal deal falls through as sides disagree over valuation". www.businesstoday.in. Retrieved 13 October 2020.
  11. ^ "ED files money-laundering case against Medanta, Naresh Trehan". Hindustan Times. 10 June 2020. Retrieved 13 October 2020.
  12. ^ "FIR filed against Medanta MD, 14 others, Trehan rejects charges". The Indian Express. 8 June 2020. Retrieved 11 January 2021.
  13. ^ Perappadan, Bindu Shajan (10 June 2020). "Medanta Hospital denies allegations of corruption, calls it 'irresponsible and frivolous'". The Hindu. ISSN 0971-751X. Retrieved 11 January 2021.

External linksEdit