Fact Check: Asian Institute of Gastroenterology Hyderabad is not up for sale
Several media organizations and websites have reported that the Asian Institute of Gastroenterology (AIG) Hospitals promoter Nageshwar Reddy
By Newsmeter Network Published on 18 Dec 2021 4:45 AM GMT
Hyderabad: Several media organizations and websites have reported that the Asian Institute of Gastroenterology (AIG) Hospitals promoter Nageshwar Reddy and investor Quadria Capital are planning to sell a controlling stake in the hospital chain. Reports said the deal is valued at Rs. 4,500-5,000 crore.
Economic Times reported, "Quadria holds a 30% stake in the chain, while the promoters own the rest. Together, they plan to sell about 60-70%, including 30-40% by the promoters. The first round of bids is expected in the next 10 days, said one of the people." (Archive)
A few other websites such as The Great India and India Bloom also reported the sale of AIG. India Bloom's headline read, "India's top gastroenterology hosp AIG up for sale, valuation expected to reach Rs. 5,000 cr."
Social media users are also posting the same.
Fact Check:
AIG Hospitals chairman Dr. D. Nageshwar Reddy released an official statement following the news. He said there is no truth in the reports and the promoters have no intention of diluting their stakes. "We are committed to hold majority stake and continue the journey of providing high-quality and affordable healthcare," he said.
AIG Hospitals is not up for sale. The reports are false.
