According to media reports, billionaire Gautam Adani and Apollo Hospitals Enterprise Ltd, India’s largest hospital operator, are evaluating bids to acquire a majority stake in Metropolis Healthcare Ltd.
Given the market capitalisation of the diagnostic chain and its operations, Adani and Apollo’s deal with Metropolis could be worth at least $1 billion or Rs 7,765 crore, according to sources.
This comes after the Adani Group, one of India’s largest business conglomerates, announced its entry into the healthcare sector last month, with reports indicating that it intends to acquire large hospitals and diagnostic assets. In May, Adani Enterprises announced the formation of a wholly-owned subsidiary, Adani Health Ventures (AHVL), for this purpose.
