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Economic Times

Ontario Teachers' announces major India healthcare deal, to sell Sahyadri Hospitals to Manipal Hospitals

Ontario Teachers' Pension Plan Board is set to sell its majority stake in Sahyadri Hospitals Group to Manipal Hospitals, pending regulatory approvals. Since acquiring Sahyadri in 2022, Ontario Teachers' has overseen its growth into a leading Maharashtra healthcare provider with 11 hospitals and over 1,400 beds. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Ontario Teachers ' Pension Plan Board (Ontario Teachers') announced on July 9 its decision to sell its majority stake in Sahyadri Hospitals Group to Manipal Hospitals The exact financial details of the deal have not been made public yet. As per reports, the deal is valued at Rs 6,400 Teachers' acquired a majority stake in Sahyadri Hospitals in 2022. Since then, Sahyadri has come a long way, transforming into a big name in Maharashtra healthcare is now one of the largest hospital chains in the state, having 11 hospitals and a capacity of over 1,400 beds. The investment has facilitated substantial growth through strategic mergers and acquisitions, making Sahyadri a significant name in Ontario Teachers' stewardship, the hospital group has developed clinical leadership and attracted top medical talent across various specialties, a press release capital investments have been made to upgrade infrastructure, medical equipment, and specialty programmes, thereby improving patient care and expanding services in smaller cities throughout Maharashtra, the statement sale of Sahyadri to Manipal Hospitals is currently pending regulatory Manipal was the leader in the race for Sahyadri Hospitals with a Rs 6,838 crore ($800 million) bid, ET had reported in late June. It was trailed closely by Healthcare-backed Fortis Healthcare and EQT Partners also submitted bids on June 23, which was the last day to submit binding financial Teachers' was supported in this transaction by a team of advisors, including Jefferies and Alvarez & Marsal for financial guidance, alongside legal counsel from Latham & Watkins and EY provided expertise in accounting, tax, and commercial matters, ensuring a smooth transition process.