KUALA LUMPUR, Feb 6 — Malaysia's IHH Healthcare Berhad is said to be competing with Singapore sovereign fund Temasek Holdings to acquire controlling interest in Indian company Global Health.
The Times of India reported unnamed sources as saying the deal is valued at around Rs5,800 crore (RM3.52 billion).
Global Health is the parent company for the Medanta hospitals, founded by cardiovascular surgeon turned medical entrepreneur Naresh Trehan.
IHH Healthcare, the world's second largest hospital chain by market value, is reportedly keen “on becoming a strategic partner” to Trehan. It is trying to amass shares held by private equity investor Carlyle, Temasek and Trehan's founding partners.
This would give IHH a controlling stake.
Singapore state investor Temasek and Carlyle both own around 45 per cent stake in Global Health with the remaining 55 per cent belonging to Trehan's family, other promoters and co-founder Sunil Sachdeva.
Temasek was also reportedly buying out investors looking to exit and was keen on acquiring “a large healthcare services provider” in India.
The Singapore fund holds just under 18 per cent ownership in Medanta as well as minority shares in Manipal Hospitals and cancer care specialist HCG.
