Fresh from Singapores sovereign wealth fund Temasek acquiring a majority stake in it, Manipal Health Enterprises plans to add another 12-14 hospitals with around 4,000 beds to its network in the next five years, according to the companys Managing Director & CEO Dilip Jose.
The company is looking at both greenfield hospitals and acquisitions for its expansion, CEO Dilip Jose said but did not disclose the investments lined up for the purpose.
Manipal Health Enterprises plans to add 12-14 hospitals to its network in five years dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
Manipal Hospitals completes acquisition of Columbia Asia Hospitals in India
April 30, 2021
Combined entity has 26 hospitals across 14 cities Healthcare provider Manipal Hospitals on Friday announced the completion of its acquisition of Columbia Asia Hospitals in India.
Manipal Hospitals has acquired 100 per cent stake in Columbia Asia Hospitals Pvt Ltd and the transfer of ownership has taken place post the completion of all regulatory approvals.
With this acquisition, Manipal Hospitals becomes India's second largest multi-speciality hospital chain, the company said in a statement. "We are pleased to have completed the regulatory processes that now allow these two outstanding healthcare delivery organisations to function as one," Manipal Education and Medical Group (MEMG) Chairman, Ranjan Pai, said.
NIIF Strategic Opportunities Fund Buys Stake in Manipal Hospitals
Posted on 04/01/2021
India’s National Investment and Infrastructure Fund Limited (NIIF), through its private equity fund NIIF Strategic Opportunities Fund, invested Rs 2,100 crore (US$ 286,241,000) in Bengaluru-headquartered Manipal Hospitals.
In November 2020, Manipal Hospitals acquiring Columbia Asia Hospitals Pvt Ltd for Rs 2,100 crore, includes Rs 300 crore of debt. This made Manipal India’s second-largest hospital chain after Chennai-based Apollo Hospitals. Manipal Hospitals was founded by Ranjan Pai. Columbia Asia Hospitals initially began operations in 2005 in Bengaluru.
NIIF invests across asset classes such as infrastructure, private equity, and other diversified sectors in India. NIIF manages over US$ 4.5 billion of equity capital across its three funds: Master Fund, Fund of Funds and Strategic Opportunities Fund.