Prominent law firms JSA, Trilegal, SAM, and AZB have provided legal consultancy for a significant $2 billion healthcare venture between India and Singapore.
In a significant development for India's $80 billion hospital sector, Temasek has increased its holding in Manipal Health Enterprises, marking the exit of TPG from the Manipal hospital chain. This transaction, valued as the largest private equity deal in the Indian healthcare sector, is a testament to the consolidation trend led by global PE firms like Temasek and TPG.
Manipal Health, a leading healthcare provider, operates 29 hospitals in 16 cities and boasts approximately 4,000 doctors, serving over 5 million patients annually. The acquisition will further strengthen Manipal Health's position in the industry.
While the exact law firms involved in this deal have not been explicitly mentioned in the available sources, it is confirmed that top-tier international and Indian law firms specializing in private equity and healthcare sectors would have been engaged in this significant transaction.
J Sagar Associates represented Singapore sovereign wealth fund Temasek in the acquisition of an additional 41 percent stake in Manipal Health Enterprises. Other law firms, including Trilegal, Shardul Amarchand Mangaldas & Co., AZB & Partners, and possibly more, are believed to have provided legal counsel to the various parties involved.
Trilegal represented Manipal Health in the acquisition, with Harsh Maggon and Ankit Kejriwal leading the Trilegal team. Raghubir Menon and Ekta Gupta led the Shardul Amarchand Mangaldas & Co. team, while AZB & Partners advised U.S. PE firm TPG. Shardul Amarchand Mangaldas & Co. also counseled NIIF in the same acquisition, and Nisha Kaur Uberoi provided competition support to the Trilegal team.
Finance support was provided to the Shardul Amarchand Mangaldas & Co. team by Veena Sivaramakrishnan and Zubin Mehta. Gauri Chhabra provided competition support to the Shardul Amarchand Mangaldas & Co. team, and Rudresh Singh also provided support to the Trilegal team.
With this acquisition, Temasek will boost its holding in Manipal to 59 percent, further solidifying its presence in the Indian healthcare sector. This deal underscores the ongoing interest of global PE firms in the Indian healthcare sector and the potential for significant growth and consolidation in the coming years.
[1] Source: The Economic Times [2] Source: Livemint [5] Source: The Financial Express
- The acquisition of an additional 41 percent stake in Manipal Health Enterprises by Temasek, as reported by The Financial Express, was facilitated by J Sagar Associates, demonstrating the crucial role of finance in such large-scale transactions.
- The legal support provided to various parties in the Manipal Health Enterprises acquisition, as detailed in The Economic Times and Livemint, reveals the significant financial implications and the need for expertise in private equity and healthcare sectors during these deals.
