Global Health Limited is entering the market with an initial public issue (IPO) on Thursday, November 3. The issue includes new shares worth Rs 500 crore and an offer-for-sale of 50.66 million shares of the Carlyle Group, comprising the whole. His 20% stake in the company. The price band of the offer is set at Rs 319-336.
Global Health operates Medanta brand hospitals in Gurgaon, Lucknow, Patna, Indore and Ranchi. Addressing a press conference in Ahmedabad on Monday, Chairman and Managing Director Naresh Trehan said he had modeled Gurgaon’s first Medanta Hospital on the Cleveland Clinic and John Hopkins in the US, with the aim of providing high-end critical care across the spectrum. Specialization “I have practiced in New York for 20 years and see many Indians flying to us for bypass heart surgery. But not everyone can afford it. I have started Escorts Heart Institute in Delhi to provide cardiac surgeries that can compare with the best in the world. Medanta Being a multi-specialty hospital, it was the next logical step.”
Dr Trehan, who is a cardiovascular and cardiothoracic surgeon, said the first Medanta hospital was able to break even within 15 months of opening in 2010 and was able to pay off all its debts within six years. Since then, the company has been on a geographical expansion, mostly in North and East India. Lucknow’s Medant Hospital, which started in 2020, has already been demolished The latest Medanta Hospital in Patna, which opened earlier this year, is yet to break even Global Health now intends to use the funds from the IPO proceeds to repay the debt of its arm Global Health Patliputra Pvt. Ltd. and Medanta Holdings Pvt. Ltd
Addressing the press conference, Global Health CEO Pankaj Sahni said that Medanta hospitals have emerged as hospitals of last resort, when all others have failed. “We do very complex, high-level work and patients often come to us with critical conditions. That is why we have so many ICU beds. For example, our hospital in Indore has 175 beds, of which 50 are for ICU,” he said.
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