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Delhi High Court blocks Fortis sale to TPG

The High Court of Delhi has accepted an application by the Japanese drug maker Daiichi Sankyo to block the sale of the Indian hospital group Fortis Healthcare to the private equity house TPG today. The Singh brothers, who own 83% of the group, were reportedly considering an INR 3,000 crore (US$451m) bid for a 26% stake in the group with a “control premium”.

New funding still long way off for soon-to-be profitable MyDentist

MyDentist, the second largest chain of dental clinics in India, is reported to be looking to raise US$20m from a third funding round. Vikram Vora, CEO of MyDentist, tells Healthcare Nova that its still early days to be talking about a deal – and he expects to make a group-level profit for the first time this quarter.

Abraaj sets its eyes on India’s Medall

The Abraaj Group, a private equity investor based in Dubai, and the owner of India’s CARE Hospitals, is close to a deal for the south Indian diagnostic group Medall according to reports in the local press.

Practo buys Enlightiks

Indian e-health platform Practo has acquired Enlightiks, a business intelligence and predictive analytics software targeting healthcare operators, for an undisclosed amount.

Clove Dental plots $25m-$30m crowning glory

Indian dental clinic chain Clove Dental is preparing to execute an expansion plan that could see it invest between US$25m and US$30m into building a network of 600 clinics over the next five years.

TPG to buy minority stake in Fortis Healthcare?

Private equity group TPG are rumoured to be in talks to buy a 26% stake in India’s second largest hospital chain Fortis. One consultant says the timing is somewhat unexpected.

FREE BLOG Narayana’s dilemmas

Indian hospital chain Narayana Health, whose innovations in procurement, process and staffing have cut the price of open-heart surgery to US$2,000, and brought its chairman, Devi Shetty, the status of rockstar surgeon, is entering Kenya - backed by the Abraaj Group and the IFC. This long-term partnership opens up a new frontier for its rapid expansion. It has been years in the making. And, yet, could it still be too soon?

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