Latest News | Manipal to Acquire Pune-based Sahyadri Hospitals
Get latest articles and stories on Latest News at LatestLY. Manipal Hospitals on Wednesday said it will acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan for an undisclosed amount.
New Delhi, Jul 9 (PTI) Manipal Hospitals on Wednesday said it will acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan for an undisclosed amount.
The hospital chain has inked definitive agreements with Ontario Teachers' for the acquisition.
However, industry sources pegged the deal at over Rs 6,000 crore.
The acquisition will bring Manipal's total bed count to about 12,000, making it one of India's largest hospital networks, the Bengaluru-based healthcare major said in a statement.
The acquisition of Pune-based Sahyadri Hospitals 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 will expand its presence in western India, in line with its strategy to augment its pan-India footprint, it noted.
"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 & 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.
A global investor with net assets of USD 194 billion as of December 31, 2024, Ontario Teachers' acquired a majority stake in Sahyadri in 2022.
Sahyadri is now one of Maharashtra's largest hospital chains, with 11 hospitals and over 1,400 beds.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)