This famous hospital chain of India is nearing sale, for Rs 50000000000 deal these giants are in race
Sahyadri Hospitals is one of Maharashtra's leading private hospital chains and is reportedly being sold. Major players, including Manipal Hospitals, Singapore-based IHH Healthcare, Blackstone-owned Quality Care India, Max Healthcare, KKR & Company, and EQT Partners are interested to buy it. These entities have already submitted preliminary bids for the acquisition.
According to reports published in The Economic Times , initial bids for Sahyadri Hospitals range between Rs 4,500 and Rs 5,000 crore. The hospital chain is currently owned by the Ontario Teachers' Pension Plan Board (OTPP), which had acquired it from the Everstone Group in 2022 for Rs 2,500 crore. Recently, OTPP appointed bankers to initiate the sale process. Sahyadri Hospitals
It was established in 1994 by Dr. Charudutt Apte, Sadanand Bapat, and Nitin Desai. It worked in neurology and neurosurgery. Over the years, it expanded and started operating in 11 hospitals across Pune, Ahmednagar (renamed Ahilyanagar), and Nashik with around 1,200 beds. The group also manages more than 50 lab collection centers with over 4,000 staff, and collaborates with 2,000 doctors.
Sahyadri also offers specialized services like maternal and child healthcare and oncology. Its infrastructure is one of the big reasons for buyers to file bids for it.
Among the contenders, Temasek-backed Manipal Hospitals is reportedly leading the race. Manipal Hospitals is known for acquiring and integrating healthcare facilities across India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
36 minutes ago
- Indian Express
SIS, GIPE trades charges again as they fight over funds, bank account
The strained relations between the Servants of India Society (SIS) and its institute Gokhale Institute of Politics and Economics (GIPE) is once again out in the open with both the bodies trading charges of wrongdoing against each other. While addressing the media in Pune on Thursday, Vishal Gaikwad, officiating deputy registrar of GIPE accused the SIS of freezing the bank accounts of the institute. On his part Damodar Sahoo, chairman of SIS, claimed that GPIE had unilaterally converted the jointly held bank account of the institute to a single-operated one which had prompted SIS to write the bank. Gaikwad said, as per University Grants Commission (UGC) norms, the sponsoring society does not have rights over the bank accounts of the institute. 'We learnt from the banks that our accounts were frozen. We managed to get them unfrozen but this is a gross violation of rules,' he claimed. Gaikwad said they have written to the Deccan Police to include the name of Sahoo in the ongoing case of allegedly fraudulently transferring Rs 1.42 crores from GIPE for the use of SIS. 'We have also written to the charity commissioner asking for the present board of SIS to be dismissed and appointment of a neural observer in its place,' he said. Relations between SIS and GIPE have soured since the last year with both the bodies trading charges against each other. GIPEs chancellor Sanjeev Sanyal had made serious allegations against Sahoo and others of misappropriating funds. Sanyal was swiftly removed from his position by Sahoo but was reinstated. Milind Deshmukh, the secretary of the SIS was arrested by the Deccan Police for his role in the multi-crore corruption scandal that had rocked the institute. Deshmukh was later removed from his position and is out on bail now. Sahoo on his part claimed that GIPE had unilaterally deviated from the convention of jointly operated accounts which had prompted the SIS to write to the bank. 'The GPIE had not intimated of the conversion of the account to single operated,' he said. Asked about the formation of an advisory committee which Gaikwad had termed as illegal, Sahoo said the committee was for better coordination between both the bodies.
Hans India
37 minutes ago
- Hans India
Air India plane crash: Tata Group announces Rs 1 crore support for families of victims
New Delhi: Tata Group Chairman N. Chandrasekaran on Thursday announced that the company will provide Rs 1 crore to the families of each person who lost their life in the tragic crash of Air India Flight 171 in Ahmedabad. He also said that the Tata Group will cover the medical expenses of those who were injured and ensure they receive full care and support. In a statement, Chandrasekaran said: "No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured." He added that the Tata Group would also help build a new hostel at B.J. Medical College as part of its support efforts. 'We remain steadfast in standing with the affected families and communities during this unimaginable time,' he mentioned. Expressing his grief, Tata Trusts Chairman Noel Tata said the tragedy has brought "immense grief to countless families". "This heart-wrenching incident has brought immense grief to countless families, and our thoughts are with all those who have lost their loved ones today," he said. "We extend our heartfelt condolences to the bereaved families and stand in solidarity with them during this unimaginable time." The crash involved Air India Flight 171, which was flying from Ahmedabad to London. According to the Directorate General of Civil Aviation (DGCA), the plane had 242 people onboard, including ten cabin crew members. The DGCA reported that the aircraft took off from Runway 23 at 1.39 p.m. Shortly after, it sent out a MAYDAY distress signal to the Air Traffic Control (ATC), but no further communication was received after that. The aircraft crashed just outside the airport boundary and was seen emitting thick black smoke. The flight was being commanded by Captain Sumeet Sabharwal, with First Officer Clive Kundar as the co-pilot.
Economic Times
41 minutes ago
- Economic Times
Jubilant Group promoters to offload stakes in listed companies via block deals: Report
Jubilant Group stake sale: Jubilant Group promoters to divest small stakes in key listed firms as part of a broader strategy following their major Coca-Cola bottling acquisition. Jubilant Group stake sale: The Bhartia family plans to offload stakes in Jubilant FoodWorks, Pharmova, and Ingrevia via block deals. The move supports strategic capital realignment after acquiring a stake in Hindustan Coca-Cola Holdings. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Bhartia family — promoters of the Jubilant Group — is planning to sell small stakes in its listed companies through block deals, according to a report from CNBC Awaaz. As per the report, the family is set to offload 1.32 crore shares of Jubilant FoodWorks , 56 lakh shares of Jubilant Pharmova , and 1.2 crore shares of Jubilant Ingrevia The move is aimed at raising Rs 2,000 crore to part-fund the acquisition of a 40% stake in Hindustan Coca-Cola Beverages (HCCB), according to people familiar with the Jubilant FoodWorks, which operates popular QSR brands like Domino's Pizza and Dunkin' Donuts in India, the promoters will reportedly sell a 2% stake at a floor price of Rs 641 per share, with Morgan Stanley acting as the Jubilant Ingrevia, a specialty chemicals and nutrition products company demerged from the group in 2021, the Bhartia family is expected to offload a 7.53% stake at a floor price of Rs 627.45, which reflects an 8% discount to the prevailing market in Jubilant Pharmova, the group's pharmaceutical arm with operations spanning APIs, radiopharma, and contract research, 3.5% stake is likely to be sold at a floor price of Rs 1,013 per share, translating to a 9.9% discount to the current market stake sales come at a time when the group is preparing for a strategic realignment of capital following its recent major December 2023, the Jubilant Bhartia Group had announced a Rs 12,500 crore acquisition of a 40% stake in Hindustan Coca-Cola Holdings (HCCH) through its subsidiary Jubilant Beverages is the parent company of Hindustan Coca-Cola Beverages (HCCB), India's largest bottler of Coca-Cola products. The acquisition marked one of the group's largest diversification moves outside of its core businesses.
