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Medanta

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Medanta
Company typePublic
ISININE882T01013
IndustryHealthcare
Founded2009; 15 years ago (2009)
Founders
HeadquartersGurgaon, Haryana,
India
Areas served
India
Key people
  • Naresh Trehan (Chairman)
  • Pankaj Sahni (CEO)[1]
Services
RevenueIncrease ₹3,349 crore (US$400 million) (FY24)[2]
Increase ₹873 crore (US$100 million) (FY24)[2]
Increase ₹478 crore (US$57 million) (FY24)[2]
Websitewww.medanta.org

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.[3][4][5]

History

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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 ₹224 crore (US$49.44 million) in the venture.[6]

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 ₹1,200 crore (US$247.91 million).[7][8][9]

In 2013, private equity firm Carlyle Group acquired Avenue Capital Group's 27% stake in Medanta for ₹960 crore (US$163.83 million), valuing the company at ₹3,550 crore (US$605.82 million).[6] In 2015, Singapore-based Temasek Holdings purchased Punj Lloyd's 17.74% stake in the company.[10]

In 2015, Medanta launched a 160-bed hospital in Indore.[11] Later that year, Medanta acquired the Abdur Razzaque Ansari Memorial Weavers' Hospital on the outskirts of Ranchi from Apollo Hospitals.[12]

In 2018, Medanta opened a 200-bed hospital in Sri Ganganagar.[13] In 2019, Medanta began operations of a 1000-bed, multi-specialty hospital in Lucknow called Medanta Avadh,[14] which was constructed at a cost of ₹1,000 crore (US$155.88 million).[15] In 2019, it was reported that Manipal Hospitals had agreed to acquire Medanta for ₹5,800 crore (US$823.63 million).[16] However, the deal was called off later that year.[17]

In 2021, Medanta inaugurated the 500-bed Jay Prabha Medanta Super Specialty Hospital in Patna.[18] In November 2022, Medanta launched its initial public offering.[19]

Rankings

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India rankings

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  • Medanta-The Medicity: 2nd rank, India's Best Hospital 2020 by Newsweek.[20]
  • Medanta-The Medicity: 2nd rank, India's Best Hospital 2021 by Newsweek.[21]
  • Medanta-The Medicity: 2nd rank, Best All India Multi Speciality Hospital Ranking 2022 by Outlook (Indian magazine).[22]
  • Medanta-The Medicity: 2nd rank, Best Cardiology Multi Speciality Hospital Ranking 2022 by The Times of India.[23]

Global rankings

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  • Medanta-The Medicity: 132nd rank, World's Best Hospital 2022 by Newsweek.[24]

Hospitals

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Jay Prabha Medanta Super Specialty Hospital in Patna

Medanta Group has following hospitals :

Controversies

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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."[25]

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.[26] Later, in 2014, the hospital and its team of doctors got the clean chit from the Delhi Medical Council.[27]

In 2014, a Junior doctor employed at Medanta Medicity in Gurgaon was apprehended on allegations of sexual assault and harassment against his sister.[28]

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.[29] The hospital was initially accused of overcharging and medical negligence.[30] 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."[31]

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.[32]

In 2019, Madhya Pradesh High Court fined the Indore unit of the hospital ₹25 lakh (US$35,501.13), 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.[33]

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.[34][35]

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."[36]

Accidents

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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.[37][38]

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.[39] The hospital's fire alarm system did not appear operational, as the eyewitness stated.[40]

References

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