Cheltenham police are investigating an abduction, carjacking, and beating that left a Glenside man hospitalized Saturday and his five assailants and his car missing.

The victim, whom authorities did not identify, arrived home in the 400 block of West Waverly Road shortly before 3 a.m. and was approached by five men who assaulted him and threw him into the backseat of his vehicle, Cheltenham police said.

The assailants drove off with him in the car, a 2006 white Infiniti with Pennsylvania license plate HTZ-7098.

About an hour later, a friend of the victim's received a call from one of the abductors, who demanded $50,000 for the victim's safe return.

The friend contacted police and later received at least eight more calls asking for the money, authorities said.

While at the Cheltenham police station, the friend received a call about 8 a.m. from the victim, who said he had just been released at the intersection of Sycamore and Juniper Avenues in Cheltenham Township.

The victim suffered facial injuries and was taken to Abington Memorial Hospital for treatment. His injuries were not life-threatening, police said.

Authorities said the case remained under investigation and did not indicate whether the victim knew his attackers.

Anyone with information is urged to contact Cheltenham police at 215-885-1600, Ext. 499, or the anonymous police tip line at 215-885-1600, Ext.777.