Acquisition to help Manipal Hospitals enhance its presence in Eastern India; Combined entity to have 33 hospitals across 17 cities. Emami Group divests its majority stake in AMRI Hospitals to focus on core business
Manipal Hospitals has announced its acquisition of 84 per cent stake in AMRI Hospitals.
Commenting on the transaction, Dr Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG), said, “Manipal Hospitals always had patrons from Eastern India and countries in the region like Bangladesh. This acquisition is in sync with our objective to further strengthen our presence and serve the patients in Eastern India – an underserved area when it comes to healthcare. We are delighted to welcome AMRI Hospitals into the Manipal family. With this addition, Manipal Hospitals would now serve patients in its 17th city in India in Bhubaneswar (Odisha). As a healthcare provider, AMRI has made a mark in the sector with its excellence in healthcare delivery and is a great asset that synergises well with our core values of clinical excellence, patient centricity, and ethical practices and will help us provide enhanced exceptional quality care.”
On this development, Aditya Agarwal & Manish Goenka, Directors, Emami Group said, “In an endeavour to focus on our core businesses, we have divested our majority stake in AMRI Hospitals, which is a significant step in Emami Group’s stated objective. We will however, continue as an investor in AMRI Hospitals with 15 per cent stake. The Government of West Bengal will also have ~ 1 per cent stake in AMRI Hospitals.
AMRI has operations in Dhakuria, Mukundapur & Salt Lake (all in Kolkata)and another at Bhubaneswar, Odisha comprising of more than 1,200 beds, over 800 doctors, and 5,000-plus healthcare professionals. Together, the combined entity will have 33 hospitals across 17 cities with 9,500 beds, and a talent pool of over 5,000 doctors and 20,000 employees.
The advisors for Manipal Health Enterprise in this initiative were Allegro Capital Advisors.