Medanta

Last updated

Medanta
Company type Public
Industry Healthcare
Founded2009;15 years ago (2009)
Founders
Headquarters Gurgaon, Haryana,
India
Areas served
India
Key people
  • Naresh Trehan (Chairman)
  • Pankaj Sahni (CEO) [1]
Services
RevenueIncrease2.svg₹2,759 crore (US$350 million) (FY23) [2]
Increase2.svg₹527 crore (US$66 million) (FY23) [2]
Increase2.svg₹326 crore (US$41 million) (FY23) [2]
Website www.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]

Contents

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 ₹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

India rankings

Global rankings

Hospitals

Jay Prabha Medanta Super Specialty Hospital in Patna Jay Prabha Medanta.tif
Jay Prabha Medanta Super Specialty Hospital in Patna

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." [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

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]

Related Research Articles

<span class="mw-page-title-main">Medical College & Hospital, Kolkata</span> Medical school and hospital in Kolkata, West Bengal, India

Medical College, Kolkata, also known as Calcutta Medical College, is a public medical college and hospital located in Kolkata, West Bengal, India. It is one of the oldest existing hospitals in Asia. The institute was established on 28 January 1835 by Lord William Bentinck during British Raj as Medical College, Bengal. It is the second oldest medical college to teach Western medicine in Asia after Ecole de Médicine de Pondichéry and the first institute to teach in English language. The college offers MBBS degree after five and a half years of medical training.

<span class="mw-page-title-main">Sahara India Pariwar</span> Indian conglomerate

Sahara India Pariwar is an Indian conglomerate headquartered in Lucknow, Uttar Pradesh, India. The group operates business sectors such as finance, infrastructure & housing, real estate, sports, power, manufacturing, media & entertainment, health care, life insurance, educational institute, offline online education (edunguru), retail, E-commerce, electrical vehicle, hospital, artificial intelligence, hospitality, and co-operative society. The group has been a major promoter of sports in India and was the title sponsor of the Indian national cricket team, Indian national hockey team and Bangladesh national cricket team, Force India Formula One team among many other sports.

<span class="mw-page-title-main">Apollo Hospitals</span> Indian hospital chain

Apollo Hospitals Enterprise Limited is an Indian multinational healthcare group headquartered in Chennai. It is the largest for-profit private hospital network in India, with a network of 71 owned and managed hospitals. Along with the eponymous hospital chain, the company also operates pharmacies, primary care and diagnostic centres, telehealth clinics, and digital healthcare services among others through its subsidiaries.

<span class="mw-page-title-main">Kasturba Medical College</span> Medical college in Karnataka

Kasturba Medical College, Manipal and Kasturba Medical College, Mangalore, together known as KMC, are two private medical colleges in the state of Karnataka, India, established in 1953 and 1955. The colleges are constituent units of Manipal Academy of Higher Education, an Institution of Eminence and deemed university.

<span class="mw-page-title-main">Naresh Trehan</span> Indian cardiovascular and cardiothoracic surgeon (born 1945)

Naresh Trehan is an Indian cardiovascular and cardiothoracic surgeon. After graduating from King George's Medical University, Lucknow, India, he went on to practice at New York University Medical Center, Manhattan, USA from 1971 to 1988. He returned to India and started Escorts Heart Institute and Research Centre. He serves as the chairman and managing director and chief cardiac surgeon of Medanta™-The Medicity. He has served as personal surgeon to the President of India since 1991, has received numerous awards, including the Padma Shri, Padma Bhushan, Lal Bahadur Shastri National Award and Dr. B. C. Roy Award.

The Bidhan Chandra Roy Award is an award instituted in 1962 in memory of Dr. B. C. Roy by the Medical Council of India. It is presented by the President of India in New Delhi every year on July 1, National Doctors' Day. It is also the highest honour that can be achieved by a doctor in India.

<span class="mw-page-title-main">Fortis Healthcare</span> Indian multinational chain of private hospitals

Fortis Healthcare Limited (FHL) is an Indian for-profit private hospital network headquartered in Gurgaon, India. Fortis started its health care operations in Mohali, Punjab, where the first Fortis hospital was started. Later on, the hospital chain purchased the healthcare branch of Escorts group and increased its strength in various parts of the country. The Escorts Heart and Research Center, Okhla, Delhi became a major operating unit of the chain. Dr. Tehran, the current MD of Medanta and several others have started their careers at this institute.

<span class="mw-page-title-main">Praveen Chandra</span> Indian cardiologist

Dr. Praveen Chandra is an Indian cardiologist and chairman of interventional cardiology at Medanta - The Medicity, Gurgaon, India. He is recognised as one of the leaders in angioplasty in the country and is proficient in a lot of new devices and technologies. He has been awarded for his contribution and services in the field of coronary angioplasty in India in 1998.

<span class="mw-page-title-main">Max Healthcare</span> Indian multi-specialty hospital chain

Max Healthcare Institute Limited is an Indian for-profit private hospital chain headquartered in Delhi. Max Healthcare owns and operates 17 hospitals with 3500+ beds and 4800+ clinicians across the Delhi National Capital Region, Mohali, Bathinda, Dehradun and Mumbai. It also operates Patient Assistance Centers in Nairobi, Lagos and Dubai.

<span class="mw-page-title-main">AMRI Hospitals</span> Hospital chain in India and Bangladesh

AMRI Hospitals is a for-profit private hospital chain which is headquartered in the city of Kolkata, West Bengal, India. In September 2023, Manipal Hospitals acquired a majority stake (84%) in the company.

<span class="mw-page-title-main">Madhya Pradesh Global Investors' Summit</span>

Global Investors Summit, officially the Invest Madhya Pradesh Global Investors Summit or GIS is a biennial business summit organized by Government of Madhya Pradesh in Indore, the commercial capital of central India to attract domestic and foreign investment for development of the state. Based on the theme– India's Growth Centre and aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers; the summit serves as a perfect platform to understand and explore business opportunities in the State of Madhya Pradesh.

Ashok Rajgopal is an Indian orthopaedic surgeon, credited with close to 20,000 Arthroscopic and over 35,000 Total Knee Arthroplasty surgeries and reported to be one of the most experienced in his field in India. He was honoured by the Government of India in 2014, by bestowing on him the Padmashri, the fourth highest civilian award, for his services to the fields of orthopaedic surgery. He has also been awarded the Dr. BC Roy award by the Medical Council of India to "Recognize the Best Talents in Encouraging the Development of Specialties in Different Branches in Medicine" for 2014.

<span class="mw-page-title-main">Make in India</span> Government initiative to encourage manufacturing in India

Make in India is an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing. The policy approach was to create a conducive environment for investments, develop a modern and efficient infrastructure, and open up new sectors for foreign capital. The initiative targeted 25 economic sectors for job creation and skill enhancement, and aimed "to transform India into a global design and manufacturing export hub."

Rajiv Parakh is the chairman at the Division of Peripheral Vascular and Endovascular Sciences at Medanta, Gurgaon, India. In 1986 he completed his vascular surgery training and acquired a fellowship from the Royal College of Surgeons in the United Kingdom. He returned to India where, in 1990, he established one of the country's first independent departments of vascular surgery at a city hospital.

The IT City, Lucknow is part of the mega CG City project envisioned by the government of Uttar Pradesh and is conceptualized as a sustainable technology hub with clean power and balanced environment. It is being built on a PPP model in partnership with HCL Technologies. It is the second major investment by an IT Company in Lucknow, the first being Tata Consultancy Services which has its TCS Awadh Campus present in the city in which thousands of engineers are already working. HCL has begun its operations in the city and training for the first batch of engineers has already been completed. The project will be commissioned by October 2016. Uttar Pradesh government has established Rs 1,500-crore Information Technology (IT) city over 100 acres in Lucknow with the concept of "Walk to Work" on Lucknow-Sultanpur Road. About 100 acres of CG city was allotted to IT and ITeS companies which will also include a hi-tech skill development centre which can train more than 5000 people. The remaining 400 acres is intended for Indian Institute of Information Technology, Lucknow (IIIT) and Medanta-Avadh super speciality hospital. The CG City project also has several other projects which include an international cricket stadium, a world standard cancer research institute, Dr. Trehan owned Medanta Awadh Heart Institute, Amul Milk Plant, 5-star hotels, shopping malls among others. CG City will also have connectivity by Lucknow Metro first phase of which has been operational from 5 September 2017.

HealthifyMe is an Indian digital health and wellness company, which provides an app with services such as calorie tracking and advice on nutrition and fitness. It is available on the Android and iOS platforms, and can be used with wearable technology such as activity trackers.

<span class="mw-page-title-main">Antigua and Barbuda–India relations</span> Bilateral relations

The high commissioner of India in Georgetown, Guyana is concurrently accredited to Antigua and Barbuda. Antigua and Barbuda maintains an honorary consulate general in New Delhi.

<span class="mw-page-title-main">Manipal Hospitals</span> Indian hospital chain

Manipal Health Enterprises, commonly known as Manipal Hospitals, is an Indian for-profit private hospital network headquartered in Bangalore, Karnataka. The hospitals trace their origins to the Kasturba Medical College, founded by T. M. A. Pai in 1953. Manipal Hospitals is the second largest healthcare provider in India, with a network of 33 hospitals. Manipal Hospitals is part of the Manipal Education and Medical Group.

References

  1. ↑ Pilla, Viswanath (18 February 2023). "Medanta sees new hospitals & services, complex specialities boosting margins". The Economic Times. Retrieved 14 July 2023.
  2. 1 2 3 Das, Vipul (29 May 2023). "Medanta Q4 results: Net profit jumps 477% to ₹101 Cr, revenue rises 37% YoY". Mint. Retrieved 14 July 2023.
  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. 1 2 "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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.