Manipal Hospitals seeks CCI nod to acquire Sahyadri Hospitals for about Rs 6,400 cr
The companies did not share the deal size, but industry sources estimate the transaction to be in the range of Rs 6,200-6,400 crore.
"The proposed transaction envisages the acquisition of up to 100 per cent shareholding by the acquirer (Manipal Hospitals Pvt Ltd) in the target (Sahyadri Hospitals Pvt Ltd) in multiple tranches," according to a notice filed with the Competition Commission of India (CCI).
Manipal Hospitals and Sahyadri Hospitals said the "proposed transaction does not have any impact on any relevant market in India, let alone any appreciable adverse effect on competition (AAEC), and therefore, the definition of the relevant product and geographic market may ultimately be left open. In any event, in order to aid and assist the CCI in its assessment".
Last month, Manipal Hospitals announced that it had inked definitive agreements with Ontario Teachers' for the acquisition.
The Bengaluru-based healthcare major said the acquisition of Sahyadri Hospitals will bring Manipal's total bed count to about 12,000, making it one of India's largest hospital networks.
The acquisition will add 11 hospitals to Manipal's network across Pune, Nashik, Ahilya Nagar and Karad, increasing its total number of hospitals to 49, it added.
Through this acquisition, Manipal said it will expand its presence in western India, in line with its strategy to augment its pan-India footprint.
"With the strong partnership of our valued stakeholders like Temasek and our other investors, we are excited to grow our operations and bring Manipal's trusted brand of quality healthcare to many more patients," Manipal Health Enterprises MD and CEO Dilip Jose said.
Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said the acquisition will strengthen Manipal's presence in western India.
"With this expansion, Manipal Hospitals will have a network of approximately 12,000 beds nationwide, solidifying our position as one of the largest hospital chains in India," he added.
Manipal Hospitals is backed by Temasek, a global investment company, headquartered in Singapore, with a net portfolio value of around USD 324 billion as of March 31, 2025.
A global investor with net assets of USD 266.3 billion as of December 31, 2024, Ontario Teachers' Pension Plan Board (Ontario Teachers') acquired a majority stake in Sahyadri in 2022.
The Pune-based hospital chain is now one of Maharashtra's largest, with 11 hospitals and over 1,400 beds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
34 minutes ago
- India.com
Masterstroke by Mukesh Ambani as Reliance to invest Rs 4300000000 in Bengaluru-based startup, it deals in..., name is...
Mukesh Ambani (File) In a significant decision which could provide a major boost to India's growing spacetech industry, Mukesh Ambani-led Reliance Industries is mulling to invest $50 million (about Rs 430 crore) in Digantara Research & Technologies, a Bengaluru-based spacetech startup, which is developing technology that can track objects in the Earth's orbit. How much is Mukesh Ambani Reliance Industries investing? According to a report by The Economic Times, Reliance Industries, India's most valued domestic firm led by billionaire Mukesh Ambani, is in advanced discussions to lead a Rs 430 crore funding round in Digantara, along with existing investors like Peak XV Partners. 'Reliance has evaluated multiple startups in the spacetech segment. It is looking at companies building novel solutions in the sector. Its talks with Digantara are at an advanced stage,' the report quoted a source familiar with the matter as saying. What does Digintara do? Co-founded by Anirudh Sharma (CEO), Rahul Rawat (COO), and Tanveer Ahmed (CTO), Digintara is a spacetech startup based in Bengaluru, working on the development of technologies which can track bjects in Earth's orbit. Earlier, in March, Digintara launched a satellite capable of tracking debris as small as 5 cm, and is currently providing services to defence agencies in both India and the United States, as per the report. According to the report, Digintara plans to deploy a constellation of about a dozen surveillance satellites by the end of 2026. The company has launched three satellites so far, one of which is part of the proposed satellite constellation. A major chunk of the upcoming funding round will be dedicated in developing and launching these satellites. 'Given the volatility in global geopolitics, every country is focused on having its own indigenous sovereign solutions that can be controlled in times of crisis. That's where the opportunity lies for startups like Digantara,' the report quoted a source as saying. The company established a manufacturing and operations facility in the US in February 2024, and expects to earn a revenue of $25–30 million (Rs 220–260 crore) from its US operation in the next 2-3 years.
NDTV
an hour ago
- NDTV
Hot Dogs, Selfies, Sneakers: Humanoid Robot Grabs New York City's Attention
New Delhi: A humanoid robot marched through Midtown Manhattan last week, causing a stir and drawing shocked stares in the heart of New York City. The robot, branded KOID and priced at around $100,000 (Rs 87.2 lakh), was deployed by global asset management firm KraneShares in a marketing stunt to promote its new Global Humanoid and Embodied Intelligence Index ETF, which launched in June. The robot had previously rung the Nasdaq opening bell. During the stunt, KOID was seen walking along Fifth Avenue, grabbing a hot dog, posing for selfies, and even walking into a Hoka store, where startled staff helped it try on sneakers. The event was filmed and posted to Instagram. View this post on Instagram A post shared by New Yorkers (@newyorkers) A blind man praised the technology as "wonderful," suggesting it could one day help people who can't use guide dogs due to allergies or other issues. Another passerby said, "I mean, I would love for it to clean my house." Not all reactions were positive. "To mess with humanity . . . y'all gotta stop. Satan, I rebuke you to hell," one man yelled. Asked about a potential robot-led future, a woman said, "It's going to happen." The robot was built by Chinese robotics company Unitree and supplied by Long Island-based RoboStore. It operates using Stanford's OpenMind software and, while remote-controlled during the Midtown walk, is fully programmable and already in use at research labs and universities. Since the ETF's launch, KraneShares reports $28 million in assets under management. According to KraneShares' marketing head Joseph Dube, "At some point these robots will be so common that it's not going to have the wow factor that it currently has. We're definitely taking advantage of a moment in time." According to the Morgan Stanley Global Humanoid Model, the humanoid robotics market could grow to 1 billion units and generate $5 trillion in annual revenue by 2050.
India Today
an hour ago
- India Today
How Trump tariffs could impact Indian pharma's $8.7 bn dream run
For long, the high-value US market has driven the growth of the storied Indian generic drugs industry, where companies like Cipla, Sun Pharma and Dr Reddy's Laboratories, among others, have successfully challenged hundreds of off-patent drugs in the US and established a soaring business FY24, India exported $8.7 billion (Rs 76,113 crore) worth of pharma products to the US, which comprises over 11 per cent of India's total merchandise exports to that the same period, India exported $77.5 billion (Rs 6.8 lakh crore) worth of merchandise goods to the US and imported $42.2 billion (Rs 3.7 lakh crore) worth of goods from it, resulting in a trade surplus of $35.3 billion (Rs 3 lakh crore) in India's US is India's largest destination for pharma exports, accounting for over 31 per cent of the country's total pharmaceutical exports. As much as 47 per cent of all generics consumed in the US are imported from India. However, the Donald Trump administration's threat of imposition of a 25 per cent reciprocal tariff from August 1 (up from 0 to 6.7 per cent at present) has thrown the Indian pharma industry in a bind. Shares of Indian pharma companies, led by Sun Pharma, fell close to 6 per cent on the NSE (National Stock Exchange) on August 1 following president Trump's statements on the tariff imposition, and his letters to 17 top US pharma companies asking them to reduce their rates in line with what prevailed in other countries. Some fear Trump may send a similar letter to Sun Pharma, which earns as much as 20 per cent of its total revenues from the US Indian industry was hoping against hope that Trump would not hike tariffs on generic drugs since these are life-saving. However, Trump had indicated earlier this year too that tariffs on pharma products would be 25 per cent from April 2 onwards, without pinpointing any nation. He later gave a 90-day reprieve to countries, and the new deadline for the tariffs was put as August imports roughly $800 million worth of pharmaceutical products from the US, and imposes a tariff of 10 per cent. Experts say that even if higher tariffs are imposed on active pharma ingredients (APIs), which are raw materials going into pharma production, India could still be competitive, if tariffs on other API-supplying countries are higher than that of the US will still be dependent on countries like India since the cost of manufacturing certain drugs in the US would be at least six times compared to that of manufacturing the same product in India, say industry US market, which relies heavily on India for APIs and low-cost generics, would struggle to find alternatives, according to Namit Joshi, chairman of Pharmexcil (Pharmaceuticals Export Promotion Council of India). 'Efforts to shift pharmaceutical manufacturing and API production to other countries or within the US will take at least 3-5 years to establish meaningful capacity,' he was quoted in media reports. advertisement'There is no need for panic. The industry should lie low for now since the US has not yet increased the tariffs. Who else can give the US such competitively-priced goods in large quantities and high quality?' Daara Patel, secretary general of the Indian Drug Manufacturers Association, had said in an interview to INDIA TODAY in April. 'Even if it increases up to 10 per cent, the industry should be able to absorb it or pass it on to the US consumers. They would not mind paying for it since it all works on insurance money,' he what if the US decides to go for a higher tariff? 'In case the US raises tariffs beyond 15 per cent, India will have to look at newer markets in East Africa and the Middle East. These markets are neither high value nor high in volumes, but it will be a better option than dealing with an uncertain US market alone,' Patel had saidSubscribe to India Today Magazine- EndsTune InMust Watch
