Business News | Tata Steel Increases Stake in Medica TS Hospital to 51 Per Cent

Mumbai [India], January 8 (ANI): Tata Steel said on Saturday it has increased its stake in Odisha-based Medica TS Hospital Private Limited to 51 per cent from the earlier 26 per cent.

Medica TS Hospital Private Limited is a joint venture company between Tata Steel Limited and Medica Hospitals Private Limited. The Company operates and manages a 100-bed multi-specialty hospital established in Kalinganagar, Odisha.

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"This is to inform you that the equity stake of Tata Steel Limited ('TSL'/'Company') in Medica TS Hospital Private Limited ('MTSHPL') (a joint venture company) has increased from 26 per cent to 51 per cent on January 7, 2022," Tata Steel said in a regulatory filing to the stock exchanges.

The turnover of Medica TS Hospital Private Limited for the year ended March 31, 2021 was Rs 34.98 crore.

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"MTSHPL is an integral part of the Kalinganagar operations of the Company in Odisha and services the employees and community in the area at large," Tata Steel said. (ANI)

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