TPG looks to combine Fortis, Manipal; Biggest Healthcare Dea
Global investor TPG Capital is attempting to pull off the biggest M&A deal in the Indian healthcare industry through a possible consolidation of Fortis Healthcare and Manipal Health Enterprises, people directly familiar with the matter said on condition of anonymity. This would create the country's largest healthcare services group rivalling current leader Apollo Hospitals, if talks fructify.

Apollo has about 10,000 beds across 70 hospitals, while Fortis and Manipal together would equal or just surpass that figure. The deal-making is likely to be a multi-staged affair, possibly spanning over the next 18 to 24 months, as TPG would initially acquire about 26% ownership and follow it up with a management takeover of Fortis.

http://timesofindia.indiatimes.com/business/india-business/tpg-looks-to-combine-fortis-manipal-biggest-healthcare-deal-will-create-rival-to-indias-no-1-hospital-chain-apollo/articleshow/57175028.cms
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