Healthcare

Manipal Hospitals, Temasek, TPG Capital inch closer to buy Medanta: report

Updated : November 23, 2018 08:54 AM IST

The proposal was discussed last week at Medanta’s board meeting that ended inconclusively, the report said citing multiple sources aware of developments.

Both the parties are expected to sign a time bound exclusivity agreement to conduct due diligence soon, added the report.

TPG Capital, Temasek and Manipal Health Enterprises are moving closer to buying Medanta Hospitals for about Rs 5,800-6,000 crore, reported The Economic Times.

The proposal was discussed last week at Medanta’s board meeting that ended inconclusively, the report said citing multiple sources aware of developments.

Both parties are expected to sign a time-bound exclusivity agreement to conduct due diligence soon, added the report.

Manipal’s current proposal would see the complete exit of Carlyle from its five-year old investment in Medanta, the report said.

The development comes after Manipal-led group emerged as the only active bidder for Medanta following Malaysia’s IHH Healthcare’s withdrawal from the bid as it acquired Fortis Healthcare.

Manipal Hospitals, Temasek, TPG Capital inch closer to buy Medanta: report

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