Logo of Medanta - The Medicity
|Headquarters||Gurgaon, Haryana, |
Medanta is a chain of multi-specialty medical institutes based in Gurgaon in the National Capital Region of India. Medanta was started in 2009 with one institute, Medanta - The Medicity in Gurgaon, with cardiac surgeon Naresh Trehan 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, Kolkata and Sri Ganganagar.
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). 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.
In 2019, it was reported that TPG Capital and Temasek Holdings-backed Manipal Hospitals Group submitted a binding offer of Rs 5,800 crore for purchase of shares in Medanta. However, as of August 2019, the deal did not go through due to a disagreement over the company's valuation between the two parties.
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.
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- 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.
- "TPG Capital-Manipal set to seal Medanta deal". mint. 12 June 2019. Retrieved 26 November 2020.
- 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.
- Balakrishnan, Reghu; PM, Indulal. "Medanta: Manipal Hospitals to buy Medanta in Rs 5,800 crore deal". The Economic Times. Retrieved 13 October 2020.
- "Rs 5,800 cr Medanta-Manipal deal falls through as sides disagree over valuation". www.businesstoday.in. Retrieved 13 October 2020.
- "ED files money-laundering case against Medanta, Naresh Trehan". Hindustan Times. 10 June 2020. Retrieved 13 October 2020.