Mulayam Singh Yadav, the founder of the Samajwadi Party, died Monday, October 10 after spending multiple days in the intensive care unit at Medanta hospital in Gurugram, where his second wife, Sadhna Gupta, died earlier this year after a prolonged illness.

Global Health Limited-owned Medanta was founded in 2004 by cardiovascular surgeon Dr Naresh Trehan and businessman Sunil Sachdeva. The hospital first opened its doors to patients in 2009, and it is now a multi-speciality network with locations in Ranchi, Patna, Indore, and Lucknow, in addition to its headquarters in Gurugram.

Also Read| Mulayam-Sadhna relationship: Netaji’s late blooming love affair

Dr Naresh Trehan is married to a renowned journalist Madhu Trehan. She founded and was the editor of the news magazine India Today. Trehan was the Editor-in-Chief of the media critique website Newslaundry. Yakub Memon, one of the primary suspects in the 1993 Mumbai serial blasts, gave Madhu Trehan his only interview in August 1994.

Global Health Limited filed documents to seek funds through an initial public offering (IPO) in the second half of 2021, which has already received SEBI permission, but the launch date is yet to be announced.

Also Read| Soldier of democracy: The Modi-Mulayam friendship, pictures tell a story

According to the drafts red herring prospectus (DRHP) submitted with SEBI, the initial public offering (IPO) would include a fresh issue of equity shares worth Rs.500 crore as well as an offer for the sale of up to 4.84 crore equity shares.

Anant Investments, a Carlyle Group subsidiary, would sell up to 4.33 crore equity shares in Global Health as part of the offer for sale. Carlyle is one of the world’s largest private equity firms and one of the first to invest in global health.

Furthermore, Global Health co-founder Sunil Sachdeva (jointly with Suman Sachdeva) will seek to sell up to 5.1 million equity shares as part of the IPO.

Anant Investments currently owns 25.67% of Global Health Limited, while the Sunil Sachdeva family owns 13.43% of the company.

Also Read| Mulayam Singh Yadav death: The Yadav family in Uttar Pradesh politics

Trehan owns 35% of the company as a promoter, and the company has a number of institutional investors, including Singapore government-owned private equity major Temasek Holdings, which owns 17% through its affiliate Dunearn Investments Mauritius Pte Limited, RJ Corp Limited, which owns 3.95%, and Agio Image Limited, which owns 1.97%.

The Global Health top line was Rs 1,478.16 crore for the fiscal year ended March 2021, compared to Rs 1,544.27 crore for the same period the previous year. The bottom line for the same fiscal year was Rs 28.81 crore, compared to Rs 36.33 crore the previous year.

Also Read| 5G rolled out in India: Key highlights

Who is Dr Naresh Trehan?

Dr Naresh Trehan, CEO and Managing Director of Medanta is one of the country’s top cardiologists. He is credited as being the President of India’s personal surgeon and has won awards such as the Padmabhushan and Padmashree for his contributions towards healthcare.

The 76-year-old cardiologist was born in Karachi in what is now in Pakistan, on August 12, 1946. His father was an ENT specialist, and his mother was a gynaecologist. In 1969, he married Madhu and moved to the United States to attend Thomas Jefferson University in Philadelphia. 

Madhu Trehan became well-known as a pioneer in investigative journalism after producing and anchoring the television news magazine programme Newstrack in 1986. Trehan’s best-selling book, Prism Me a Lie, Tell Me a Truth – Tehelka as Metaphor, was released in 2009. She is currently working as an independent journalist.

In 2020, Naresh Trehan and 15 others, including companies and unidentified Haryana government officials, were charged with money laundering, corruption, criminal conspiracy, forgery, and criminal breach of trust in connection with the land allotment for Medanta Hospital in Gurugram.