Sheares Healthcare Singapore, the healthcare platform of investment major Temasek, has reached the last stage of negotiation to raise its interest to 90% in Kolkata, India-based hospital chain Medica Synergie and offering an exit to the chief founder, several sources told Moneycontrol.
Sheares had bought a majority stake in Medica Synergie in December 2021 from private equity company Quadria Capital.
One of the sources told the news outlet: “Sheares is looking to shore up its current stake from around 75 percent to around 90 percent in the firm via a combination of primary and secondary issue of shares.”
Another source said that as part of the proposed deal, Sheares has held negotiations to acquire the minority stake held by Medica Synergie chairman and founder Dr Alok Roy and associated entities.
Medica Synergie offers treatment for cardiac, neurological and kidney care, among others.
Earlier this week, Temasek acquired an additional 41% interest in India-based Manipal Health through its portfolio company Sheares Healthcare Group.
Temasek is said to have paid nearly $2bn to acquire the additional stake.
Following the purchase, Temasek now holds 59% stake in the hospital, up from 18% prior to the acquisition.