dkishore
16-05-2008, 06:35 AM
PTL Enterprises, part of the Onkar Kanwar-controlled Apollo Tyres group is in advanced stage of negotiations for offering around 15% stake in subsidiary Artemis Medicare Services to a private equity player, for raising money for its hospital project at Gurgaon.
According to sources familiar with the development, the company is in talks with firms like 3i and CDC, and the deal is expected to be finalised shortly. Company officials declined to comment on the issue. The deal size which is said to be close to Rs 60 crore, values PTL Enterprises’ healthcare business at over Rs 400 crore.
Artemis operates a 260 bed multi-specialty hospital at Gurgaon, which will be expanded to 500 beds. Artemis had posted a net profit of Rs 9.5 crore for the year ended March 2008 as compared to Rs 6.3 crore in the previous year
According to sources familiar with the development, the company is in talks with firms like 3i and CDC, and the deal is expected to be finalised shortly. Company officials declined to comment on the issue. The deal size which is said to be close to Rs 60 crore, values PTL Enterprises’ healthcare business at over Rs 400 crore.
Artemis operates a 260 bed multi-specialty hospital at Gurgaon, which will be expanded to 500 beds. Artemis had posted a net profit of Rs 9.5 crore for the year ended March 2008 as compared to Rs 6.3 crore in the previous year