Medanta Explained

Medanta
Logo Alt:Medanta The Medicity Logo
Image Alt:Medanta the medicity hospital
Type:Public
Traded As:
    Isin:INE882T01013
    Successors:-->
    Founders:
    Hq Location:Gurgaon, Haryana
    Hq Location Country:India
    Industry:Healthcare
    Services:
    Revenue: (FY24)
    Operating Income: (FY24)
    Net Income: (FY24)[1]
    Areas Served:India

    Global Health Limited, d/b/a Medanta, is an Indian for-profit private hospital network based in Gurgaon. The chain was started in 2009 by cardiac surgeon Naresh Trehan and Sunil Sachdeva.[2] [3] [4]

    History

    In 2004, cardiac surgeon Naresh Trehan began working on Medanta, along with Sunil Sachdeva, after leaving Escorts Heart Institute. In June 2006, Avenue Capital Group invested in the venture.[5]

    In 2009, Medanta launched its first hospital, Medanta - The Medicity in Gurgaon, a 1250-bed super-specialty hospital spread over 43 acres which was built at a cost of about .[6] [7] [8]

    In 2013, private equity firm Carlyle Group acquired Avenue Capital Group's 27% stake in Medanta for, valuing the company at .[5] In 2015, Singapore-based Temasek Holdings purchased Punj Lloyd's 17.74% stake in the company.[9]

    In 2015, Medanta launched a 160-bed hospital in Indore.[10] Later that year, Medanta acquired the Abdur Razzaque Ansari Memorial Weavers' Hospital on the outskirts of Ranchi from Apollo Hospitals.[11]

    In 2018, Medanta opened a 200-bed hospital in Sri Ganganagar.[12] In 2019, Medanta began operations of a 1000-bed, multi-specialty hospital in Lucknow called Medanta Avadh,[13] which was constructed at a cost of .[14] In 2019, it was reported that Manipal Hospitals had agreed to acquire Medanta for .[15] However, the deal was called off later that year.[16]

    In 2021, Medanta inaugurated the 500-bed Jay Prabha Medanta Super Specialty Hospital in Patna.[17] In November 2022, Medanta launched its initial public offering.[18]

    Rankings

    India rankings

    Global rankings

    Hospitals

    Medanta Group has following hospitals :

    Controversies

    In 2012, a donor died during the liver transplantation operation despite the fact that a pre-operation medical report clearly stated that donor's liver "was not ideal for donation."[24]

    In April 2013, the former Chief Justice of India J. S. Verma died from multiple organ failure at Medanta-The Medicity Hospital. The family of Jurist Verma alleged that he died due to medical negligence.[25] Later, in 2014, the hospital and its team of doctors got the clean chit from the Delhi Medical Council.[26]

    In 2014, a Junior doctor employed at Medanta Medicity in Gurgaon was apprehended on allegations of sexual assault and harassment against his sister.[27]

    In 2018, a report was published in The Wire (India) where it mentioned the role of India's Ministry of Health and Family Welfare took an arbitrary step and brokered a deal between the kin of a deceased boy who died in the Medanta hospital during treatment.[28] The hospital was initially accused of overcharging and medical negligence.[29] The reporter on this case writes, "Medanta used the opportunity to hush Gopendra (deceased boy's father) up completely and kill his criminal complaint against them. For now and in this case, the hospital appears to have succeeded."[30]

    In 2019, the Government of Jharkhand issued a directive to take legal action against the Medanta Abdur Razzaque Ansari Memorial Weavers' Hospital in Ranchi for a suspected instance of medical negligence involving a kidney transplant; the doctors did not filter the blood before the transplant, thus the operation failed. When the public petition was being heard, the patient's relatives brought forward an allegation that the doctor who operated was putting pressure on them to retract the first information report they had filed against him at the Ormanjhi police station.[31]

    In 2019, Madhya Pradesh High Court fined the Indore unit of the hospital, for failing to establish an internal complaints committee as required by Section 4(1) of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.[32]

    In June 2020, the Enforcement Directorate filed a money laundering case against the hospital, its chairman Naresh Trehan, Atul Punj and unidentified Haryana government officials for suspected irregularities in the hospital's 2004 land allocation.[33] [34]

    In 2021, the District Collector of Indore ordered the closure of Indore's Medanta hospital-owned pharmacy store because "the hospital was not providing any information" to the state's Chief Medical Health Officer (CMHO). Earlier, an inquiry was initiated against an overcharging case by the same officer, but the hospital administration "did not pay heed to it."[35]

    Accidents

    In 2017, an air ambulance from Medanta Hospital en route to Bangkok was involved in a crash landing at Nakhon Phanom Airport, about 730 kilometers from the Thai capital, resulting in the pilot's death and injuring two medical professionals.[36] [37]

    In January 2022, a fire broke out in the intensive care unit of Medanta's Indore hospital. However, there were no reports of any casualties.[38] The hospital's fire alarm system did not appear operational, as the eyewitness stated.[39]

    External links

    Notes and References

    1. Web site: Investor Presentation Q4 and FY2024 . medanta.org . 13 June 2024.
    2. Web site: Gurgaon hospital scores a first with robotic surgery . Times of India . 2 February 2022 . https://archive.today/20130629134229/http://articles.timesofindia.indiatimes.com/2010-11-20/gurgaon/28263024_1_robotic-surgery-robotic-procedures-cardiac-surgery . 29 June 2013 . dead.
    3. News: Dash . Jayajit . Medanta may invest Rs 750-1,000 cr on high-end hospital in Odisha . 3 November 2022 . Business Standard . 4 February 2017 . en.
    4. Web site: Sonavane . Ravindra N. . 2021-09-30 . Medanta hospital chain files for share sale . 2022-05-03 . mint . en.
    5. News: Carlyle Group picks 27% in Medanta Medicity Hospital for Rs 960 cr . 13 November 2022 . Indian Express.
    6. News: Magic of Medanta . Financial Express . 19 July 2010 . 23 April 2013. dead . https://web.archive.org/web/20100725093557/https://www.financialexpress.com/news/magic-of-medanta/648319/0. 25 July 2010.
    7. Web site: Medanta has no effect on competitors. https://web.archive.org/web/20140307081702/http://www.sify.com/finance/medanta-has-no-effect-on-competitors-news-news-kdlcbbjadec.html . dead . 7 March 2014 . 11 March 2010 . . 23 April 2013.
    8. News: Bhattacharjee . Arindam . Operation Medanta . 3 November 2022 . Business Standard . 19 July 2010.
    9. News: Temasek buys 18% stake in Medanta from Punj Lloyd . 13 November 2022 . VCCircle.
    10. News: Dr Naresh Trehan inaugurates Medanta — The Medicity in Indore . 13 November 2022 . Economic Times . en.
    11. News: Medanta forays into Irba heal hub with promise of better care . 13 November 2022 . Telegraph India.
    12. News: Medanta opens 200-bed hospital at Sri Ganganagar . 13 November 2022 . United News of India.
    13. News: CM inaugurates 1,000-bed Medanta hosp in Lucknow . 13 November 2022 . Hindustan Times . 5 November 2019 . en.
    14. News: Construction of Medanta hospital in Lucknow begins . 13 November 2022 . Business Standard . 15 October 2015.
    15. News: Manipal Hospitals to buy Medanta in Rs 5,800 crore deal. Balakrishnan. Reghu. 2019-05-27. The Economic Times. 2019-10-03. PM. Indulal.
    16. News: Rs 5,800 cr Medanta-Manipal deal falls through as sides disagree over valuation . 13 November 2022 . Business Today . 17 August 2019 . en.
    17. News: Patna: CM Nitish Kumar inaugurates 500-bed Medanta hospital . 13 November 2022 . The Times of India . en.
    18. News: Medanta hospital chain IPO to open on November 3 . 3 November 2022 . Moneycontrol . en.
    19. Web site: 2020-02-27 . Best Hospitals – India . 2022-11-15 . Newsweek . en.
    20. Web site: 2021-03-02 . Best Hospitals 2021 - India . 2022-11-15 . Newsweek . en.
    21. Web site: 2022-04-20 . Best All India Multi Speciality Hospital Ranking 2022 Presented By Outlook & NEB Research . 2022-11-15 . . en.
    22. Web site: Best Cardiology Hospitals in India . 2022-11-15 . The Times of India.
    23. Web site: 2022-03-02 . World's Best Hospitals 2022 - Top 250 . 2022-11-15 . Newsweek . en.
    24. Web site: TNN. Jul 3, 2012 . Dead donor's kin demand justice Gurgaon News - Times of India . 2023-01-02 . The Times of India . en.
    25. Web site: 2013-10-07 . Was Justice JS Verma's death a case of medical negligence? . 2022-11-14 . Firstpost . en.
    26. Web site: Nanda Jha . Durgesh . July 23, 2014 . DMC rules out negligence in ex-CJI's death . 2022-11-14 . The Times of India . en.
    27. Web site: Gupta . Siddhartha . 2014-04-27 . Gurgaon doctor held on charges of raping, molesting his sister . 2023-10-27 . The Indian Express . en.
    28. News: 2018-03-29 . Father withdraws complaint, Medanta refunds ₹15 lakh . en-IN . The Hindu . 2022-11-06 . 0971-751X.
    29. Web site: Bhuyan . Anoo . Health Ministry Brokers Rs 15 Lakh Refund to Bereaved Parents, Medanta Uses It as Hush-Money . 2022-11-06 . The Wire.
    30. Web site: Bhuyan . Anoo . Two Fathers Fighting Big Hospitals For Justice – But On Different Paths . 2022-11-06 . The Wire.
    31. Web site: Neglect whip on Medanta hospital . 2022-11-14 . www.telegraphindia.com.
    32. Web site: Saxena . Akshita . 2019-09-18 . Sexual Harassment At Workplace: Hospital Fined 25 Lakh For Not Having ICC . 2022-11-06 . www.livelaw.in . en.
    33. Web site: ED Files PMLA Case Against Dr Naresh Trehan, Medanta Hospital . 2022-11-06 . The Wire.
    34. Web site: Tiwary . Deeptiman . 2020-06-11 . ED files money laundering case against Medanta . 2022-11-06 . The Indian Express . en.
    35. Web site: Indore collector orders closure of Medanta hospital pharma shop . 2022-11-06 . The Pioneer . en.
    36. Web site: Medanta Hospital's air ambulance crashes near Bangkok, pilot dead, 2 doctors in ICU . 2022-11-14 . India Today . 6 March 2017 . en.
    37. Web site: Scroll Staff . Pilot killed as air ambulance of Gurgaon's Medanta Hospital crash lands in Thailand . 2022-11-14 . Scroll.in . 7 March 2017 . en-US.
    38. Web site: 2022-01-16 . Fire breaks out in ICU of private hospital in Indore; patients safe . 2022-11-14 . Deccan Herald . en.
    39. Web site: Antriksh . Singh. January 17, 2022 . Close shave for patients after fire at Medanta hospital in Indore . 2022-11-14 . The Times of India . en.

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