Combined entity to have 27 hospitals across 15 cities with 7,300+ beds, with 4,000+ doctors and 10,000+ employees
Manipal Hospitals has announced its intent to acquire 100 per cent stake in Columbia Asia Hospitals (Columbia Asia). The transfer of ownership is expected to be completed post regulatory approvals. Reports value the deal at Rs 2100 crore.
Together, the combined entity will have 27 hospitals across 15 cities with 7,300+ beds, 4,000+ doctors and 10,000+ employees, while treating over 4 million patients annually, making it amongst the largest healthcare provider networks in India.
Commenting on the rationale of the deal, Dr Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG), said that Columbia Asia acquisition would make them “bigger, stronger and uniquely positioned to meet the growing expectations of the communities we serve across the country.”
Sharing his views on the transaction, Dan Baty, Chairman, Columbia Pacific Management said, “From day one, we focused on building a culture of putting the patient first to deliver the highest quality healthcare with integrity and exceptional service. This combination of Columbia Asia and Manipal Hospitals is very exciting because of the strong cultural alignment between the two companies – and the opportunity it provides for continued growth.”
Manipal Health Enterprise was advised by Allegro Capital while Morgan Stanley advised Columbia Pacific.
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