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, Kolkata and Sri Ganganagar.[4][5]

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

Investors

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]

Allegations

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]

References
  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. Retrieved 24 April 2012.
  2. "Medanta has no effect on competitors". Sify. 11 March 2010. Retrieved 23 April 2013.
  3. "Magic of Medanta". Financial Express. 19 July 2010. Retrieved 23 April 2013.
  5. "Medanta has no effect on competitors". Sify. 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.
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