SINGAPORE (Dec 15): Temasek Holdings will buy a 72% stake in Hyderabad-based Care Hospitals from US-based private equity firm Advent International for 18 billion rupees ($378.9 million), The Economic Times reports on Tuesday.
According to the report, Temasek had earlier teamed up with TPG Growth to form a consortium but the latter opted out a few weeks ago because it was uncomfortable with the pricing, among other things.
Care Hospitals runs a network of 17 hospitals with 2,400 beds across nine locations, The Economic Times says.
A formal announcement of the deal is expected in the next seven to 10 days, the paper says.