KUALA LUMPUR, March 21 ― Malaysia's health group IHH Healthcare Bhd has submitted a bid for a controlling stake in India's multi-specialty hospital called Medanta ― The Medicity, located in Gurugram.
Indian portal Little India reported that the hospital is valued at between RM3.3 to RM3.4 billion..
Currently the breakdown on Medanta is such: US-based Carlyle Group ― 27 per cent; Singapore-based Temasek Holdings Ptv ― 18 per cent and; Indian cardiac surgeon Dr Naresh Trehan, his family and Medanta co-founder Sunil Sachdeva ― 55 per cent.
Last year, Medanta was valued at RM3.91 billion to RM4.51 billion. However, due to top-level doctors exiting from the hospital recently, the valuation has gone down.
The Indian-based portal also quoted a "fall in revenue" according to LiveMint sources partially due to price regulation of cardiac stents and knee caps.
IHH, considered to be the largest healthcare group in Asia has also been reported to acquiring the Fortis Hospital chain there as well through share purchasing from the public and banks.
IHH first entered the Indian healthcare market in 2015 when it took a controlling 51 per cent stake in Continental Hospitals Ltd in Telangana for RM180 million and a 74 per cent stake in Global Hospitals Pvt Ltd in Hyderabad for RM770 milllion.
