The Sheares Healthcare Group is wholly-owned by Temasek, which had a net portfolio value of around $284 billion at the end of the last financial year. It invests in, designs, builds and operates a network of healthcare facilities, including hospitals, clinics, specialist medical centres and senior living facilities
The management will remain the same, headed by founder Dr MI Sahadulla who along with his family holds about 25% stake in Kims, the sources said. Blackstone and Manipal Health Enterprises are the two contenders left in the race for Kims. Manipal was keen on acquiring up to 90% stake with Sahadulla to remain as a minority shareholder with 10% stake, people aware of the development said.