Manipal Hospitals has announced that it will acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers’ Pension Plan Board (OTPP). The companies did not share the financial details, but media reports suggest the deal size could be in the range of Rs 6,200-Rs 6,400 crore.
This acquisition will help increase Manipal’s bed count to 12,000 nationwide. OTPP made a 2.6 times return on its investment in Sahyadri, which operates 11 facilities in Pune, Nashik, Ahilyanagar and Karad in Maharashtra. The acquisition will take Manipal’s hospital count to 49.
“We are excited to grow our operations and bring Manipal’s trusted brand of quality healthcare to many more patients,” Dilip Jose, MD & CEO, Manipal Health Enterprises, was quoted by media reports as saying. Manipal Hospitals is backed by Temasek, a global investment company headquartered in Singapore.
