How Manipal’s Pai is growing the health and education pie
MHE today has a pan-India footprint of 29 hospitals across 15 cities with 8,300 beds, with more than 4,000 doctors, who last year treated nearly 5 million patients. Once the Kolkata-based AMRI hospital chain with 1,200 beds — a ₹2,400 crore deal which MHE is on the verge of completing next month is done — it will overtake Apollo as the hospital chain with most beds in the country. Key Points
The HinduManipal Tech, India's largest banking & smart cards manufacturer, looks to raise Rs 1,000 cr
Initially, this proposed transaction will give an exit to a few minority shareholders - family members who own about 20% stake in the parent company MTL. Besides the secondary stake sale, about 5-10% primary shareholding will be sold to meet expansion plans, sources aware of the initiative told ET. Key Points
Economic TimesSmear microscopy needs to be replaced with molecular testing for tuberculosis: expert
In 2021, TB killed an estimated 1.6 million people with most deaths occurring in low and middle-income countries. Key Points
The Indian ExpressPai in the Sky: Ranjan to own 40% of Aakash
The Aakash board has approved the conversion into equity of the $300 million Pai invested during 2023, they added. This values the company — one of the remaining valuable assets for Byju Raveendrans troubled edtech group — at around $700 million and renders it debt-free. Key Points
Economic TimesRanjan Pai may put $50-60 million more to grow Byju’s Aakash
Manipal chief Ranjan Pai will invest the new tranche of capital sooner in Aakash ahead of key student enrolment season, people aware of the discussions said. Sources at Aakash also said the coaching unit will require additional investment from Pai for it to be able to run operations and scale the business during the next few months when students enroll in these centre. Key Points
Economic Times
TB testing stuck in the previous century, and waiting for change
In Nature journal, Dr. Madhukar Pai, Dr. Soumya Swaminathan and Puneet K. Dewan recommend for tuberculosis using molecular tests with non-sputum samples in a decentralised facility that can test for multiple conditions. Key Points
The HinduTemasek may close deal with Ranjan Pai for Manipal Health within 4 weeks
The transaction will consummate only after a nod from the Competition Commission (CCI), they said. Pai currently holds a 51% in MHE, followed by 20% by PE fund TPG Group, 18% by Temasek, 10% by National Investment & Infrastructure Fund (NIIF) and 1% by employees. Key Points
Economic TimesTV Mohandas Pai supports Narayana Murthy's '70-hour workweek' comment, shuts down critic
Infosys founder N R Narayana Murthy on Thursday said Indian youngsters should work 12 hours a day so that India can compete with economies that have made tremendous progress in the last two to three decades. His comments have triggered an intense debate among netizens. Key Points
Business TodayWith 40% stake, this tycoon to be largest shareholder in Byju's-owned Aakash
Byju's acquired Aakash Institute in April 2021 for $950 million (approx. ₹7885 crore). Key Points
Hindustan TimesNarayana Murthy's 70-hr advice for people below 30: Ex-Infosys CFO cites data
Ex-Infosys CFO Mohandas Pai who supported Narayana Murthy's advice of 70-hour work per week cited 2019 data that Indians work 61.6 hours per week. | Latest News India Key Points
Hindustan Times