Manipal Hospitals, a multi-specialty hospital chain, would acquire Medanta, a leading hospital chain in India, for $829m. US-based PE fund Carlyle holds a 27% stake in Medanta, acquired from US-based Avenue Capital in 2013 at a valuation of $600m. Manipal Hospitals is financially backed by TPG and Temasek. A new investor Blackstone is expected to pitch a $450m funding commitment.