Manipal Hospitals Expands Reach with Sahyadri Acquisition for Rs 6,400 Crore
Manipal Hospitals is acquiring Pune-based Sahyadri Hospitals from Ontario Teachers' Pension Plan Board for an estimated Rs 6,400 crore. This move will add 11 hospitals, raising Manipal's bed count to 12,000 and solidifying its position among India's largest hospital networks, enhancing its footprint in western India.
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Healthcare giant Manipal Hospitals is taking a significant step to expand its presence in India through the acquisition of Pune-based Sahyadri Hospitals. Estimated at around Rs 6,400 crore, the deal will see Manipal acquiring a 100 percent stake from Ontario Teachers' Pension Plan Board.
The transaction, which has been submitted for approval to the Competition Commission of India, is not expected to adversely affect the market competition. Currently, Manipal Hospitals' ambitious expansion plan involves augmenting its network to 49 hospitals and a total bed count of 12,000, making it one of the largest hospital chains in India.
With the acquisition, the healthcare major strengthens its presence in the west, furthering its objective to deliver quality healthcare across the nation. Backed by global investor Temasek, Manipal demonstrates readiness to broaden its reach and enhance its reputation as a trusted healthcare provider.
(With inputs from agencies.)
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