J Sagar Associates has represented Singapore sovereign wealth fund Temasek on its acquisition of an additional 41 percent stake in Indian hospital chain Manipal Health Enterprises from investors, including U.S. PE firm TPG, which was advised by AZB & Partners, and NIIF, which was counseled by Shardul Amarchand Mangaldas & Co. Trilegal represented Manipal Health.
This transaction is said to be the largest private equity deal in the healthcare sector in India. Manipal currently serves over 5 million patients annually through its 29 hospitals in 16 cities with 4,000 doctors. With this acquisition, Temasek will boost its holding in Manipal to 59 percent, while TPG will fully exit from the hospital chain.
The JSA team was led by partners Vikram Raghani (lead partner), Rishabh Gupta and Abhijeet Sonawane, with support from competition partners Vaibhav Choukse and Ela Bali.
The SAM team was led by partners Raghubir Menon and Ekta Gupta, with support from finance partners Veena Sivaramakrishnan and Zubin Mehta, and competition partner Gauri Chhabra.
The Trilegal team was led by partners Harsh Maggon and Ankit Kejriwal, with support from competition partners Nisha Kaur Uberoi and Rudresh Singh.