Companies

Medanta to get ₹100 crore from ADB

Our Bureau New Delhi | Updated on February 15, 2021

The Gurugram-based Medanta, or Global Health Private Limited, would get ₹100 crore ($13.7 million) from the Asian Development Bank (ADB) in debt financing to provide essential healthcare services during the Covid-19 pandemic.

An agreement for this was signed between Aniruddha Patil, head of Health and Education Investments at ADB’s Private Sector Operations Department, and Naresh Trehan, Chairman and Managing Director of Medanta.

The project will support the purchase of personal protective equipment, basic hygiene products, and patient care equipment such as ventilators and beds. It will also support staff training programmes on infection prevention and control, an ADB statement said here on Monday.

“The financing will help us focus on increasing health care capacity to satisfy the strong Indian demand for both Covid-19 and non-Covid related treatment,” Trehan said.

Medanta has four multi-speciality hospitals in Gurugram, Indore, Lucknow and Ranchi, besides three clinics.

This debt financing is part of a $20-billion assistance package that ADB announced in April 2020 to help its developing members manage the pandemic. The funding complements ADB’s sovereign support to India, including a $1.5-billion loan approved in April 2020 for Covid-19 disease containment and prevention, and social protection for poor and economically vulnerable communities.

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Published on February 15, 2021
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