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    Temasek likely to support Manipal Hospitals’ bid to acquire Medanta, says report

    Temasek likely to support Manipal Hospitals’ bid to acquire Medanta, says report

    Temasek likely to support Manipal Hospitals’ bid to acquire Medanta, says report
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    By CNBC-TV18  IST (Published)

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    Temasek is backing Manipal Hospital’s bid to acquire Medanta Hospitals and may put in Rs 2,100 crore, reported The Times of India.

    Temasek is backing Manipal Hospital’s bid to acquire Medanta Hospitals and may put in Rs 2,100 crore, reported The Times of India.
    The move comes at a time when Singapore’s state-owned investment firm is looking to increase its influence in the healthcare sector, two sources familiar with the development told the newspaper.
    “Temasek has been in discussions with Manipal for three-four months to increase its stake in the combined entity and is now financing it since they were already involved in the deal,” a source was quoted as saying in the report.
    Ranjan Pai-led Manipal Hospitals started negotiations to acquire heart surgeon Naresh Trehan-promoted Medanta Hospitals for Rs 5,500-6,000 crore, the report said. Sources told the media that if the deal gets finalised, Manipal Health will be valued at close to $2 billion.
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