Manipal Hospitals to acquire Pune-based Sahyadri Hospitals for around ₹6,000 crore
Ontario Teachers' is a Canadian global investor with net assets of $194 billion as of December 31, 2024.
The acquisition of Sahyadri Hospitals would add 11 more hospitals to Manipal's hospital network across Pune, Nashik, Ahilya Nagar and Karad, taking its total number of hospitals to 49. Sahyadri Hospitals buyout would also bring Manipal's total bed count to about 12,000, making it one of India's largest hospital networks, said the company.
Dr. Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG) said, 'This acquisition will strengthen our presence in western India, enabling us to extend world-class healthcare to more patients. It is a proud moment for us to have grown over time from a single hospital in Bengaluru in 1991 into one of the largest hospital networks.''
'At Manipal Hospitals, we are focused on maintaining a patient-centric ecosystem rooted in clinical excellence and transparency, serving a multitude of patients from all over the country, and beyond,''claimed Dilip Jose, MD & CEO, Manipal Health Enterprises.
With the strong partnership of Manipal's valued stakeholders like Temasek and other investors, the group was excited to grow its operations and bring Manipal's trusted brand of quality healthcare to many more patients, he added.
Manipal Hospitals was supported by a team of advisors, including Allegro Capital Advisors and Barclays (financial), Cyril Amarchand Mangaldas (legal), Alvarez & Marsal (accounting and commercial), and Deloitte (tax).
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