Carlyle takes minority stake in Medanta's holding firm

Sources say deal will be in the range of Rs 650-700 cr

Global private equity giant The Carlyle Group has bought a minority stake in Naresh Trehan’s Global Health, which runs multi-speciality Medanta-The Medicity hospital in Gurgaon, near the national capital. Anant Investments, an affiliate of Carlyle Asia Partners III, has made the investment, including buying a significant equity stake held by an affiliate of Avenue Capital Group. Sources said Avenue holds 28-30 per cent in the hospital.

Though financial details were not disclosed, sources said the deal would be in the range of Rs 650-700 crore. Business Standard had first reported about discussions between Carlyle and Trehan in August. Led by Trehan, a renowned cardiac surgeon, Global Health operates the 900-bed hospital, providing super-speciality care in cardiology, neurology, gastro, liver transplant and orthopaedics. Trehan holds 55 per cent in Global Hospitals, while construction firm Punj Lloyd owns 17 per cent.In India, Carlyle has only one investment in health care space, Claris Lifesciences, made in 2006.