Tata Steel Ltd has completed the acquisition of 100% stake in Medica TS Hospital Pvt Ltd from Manipal Hospitals Eastern India Pvt Ltd for a total cash consideration of ₹1.49 crore.
With this transaction, Medica TS Hospital has become a wholly owned subsidiary of Tata Steel.
Stake consolidation
Under the Share Purchase Agreement dated March 17, 2026, Tata Steel acquired 7.40 lakh equity shares of face value ₹10 each, representing the remaining 49% equity stake.
The company also acquired 2.30 crore optionally convertible redeemable preference shares, accounting for 31.85% of the preference shareholding, thereby consolidating full ownership across both equity and preference capital.
Strategic rationale
The hospital is the only multi-speciality healthcare facility in the Kalinganagar Industrial Complex in Odisha and plays a critical role in serving employees, contract workers, their families and the surrounding community.
Tata Steel said full ownership would strengthen healthcare access and support its broader commitment to employee welfare and community development.
Operational profile
Medica TS Hospital operates a 100-bed multi-speciality facility in Kalinganagar.
For FY25, the hospital reported a turnover of ₹33 crore, a net loss of ₹2 crore and a net worth of ₹44 crore.
Community impact
The acquisition aligns with Tata Steel’s focus on enhancing social infrastructure in its key operational regions.
Strengthening healthcare delivery in industrial clusters is expected to improve overall quality of life and ensure better access to medical services.