Tata Steel increases stake in Medica TS Hospital to 51 per cent

Mumbai: 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.

"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.

"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.