Pai owns 60% of Manipal Hospitals through the promoter holding company, with TPG and Temasek owning the rest.These existing investors are also planning to proportionately infuse primary capital to retain their shareholding. Blackstone is said to be conducting due diligence independently.Pai and Blackstone declined to comment.Pai-led Manipal Hospitals will be buying out the shareholders of Global Health, the entity that owns Medanta Hospitals, in an all-cash deal, said the people cited above. Once the deal is closed, it will mark the exit of PE fund Carlyle from its five-year-old investment in Medanta. Privately held Global Health posted sales of Rs 1,278 crore in fiscal 2017, down from Rs 1,384 crore the year before. Profit after tax fell to Rs 54 crore from Rs 175 crore.

Source: Economic Times February 18, 2019 01:07 UTC