Gautam Adani has his eyes set on picking up a majority stake in a diagnostic chain. Along with Apollo Hospitals Enterprise Ltd-the country’s biggest operator of hospitals, Adani is evaluating bids to pick up a majority stake in diagnostic chain Metropolis Healthcare Ltd, two people familiar with the development said to Mint.
The deal size, given the market cap of Metropolis and its operations across the country, could be at least $1 billion ( Rs 7,765 crore), they told the newspaper.
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies, PTI reported earlier.
Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022.
Adani Health, the filing stated, will commence its business operations soon. The Adani-led conglomerate, which operates seaports to airports and energy, has forayed into the cement sector by acquiring Holcim's India businesses -- Ambuja Cements Ltd. and ACC Ltd. For its healthcare foray, the group reportedly has been in talks with big names in the sector and may invest up to $4.
(With PTI inputs)