Manipal Hospitals has acquired an 87% stake in Kolkata-based Medica Synergie, a subsidiary of Singapore s Temasek Holdings. The deal, valued at Rs1200 crore, is part of Manipal Hospitals strategy to expand its presence in Eastern India. The acquisition comes after Sheares Health, the healthcare platform owned by Singapore s Temasek Holdings, acquired an additional 41% stake from existing investors and the promoter family for Rs16,500 crore.
India's prominent hospital chains are shifting their focus to smaller centres and facilities as they chase growth in the booming healthcare market while coping with higher real estate costs and a dearth of land space in its cities. Though healthcare facilities are still in short supply in most parts of India, and especially so in its towns and smaller cities, patients in the world's most populous nation are showing a greater preference for specialised-but-accessible amenities in the post-COVID pandemic era. That trend is expected to form the bedrock of demand in the Indian healthcare market, which, according to forecasts by global consulting firms Boston Consulting Group and B Capital, is expected to grow near three-fold over eight years to $458 billion in 2030.
GA will acquire about 51% stake held by existing investors - Eight Roads Ventures India, Evolvence India Fund and Somerset Indus Healthcare Fund. Besides the secondary transaction, GA will also acquire a small minority stake from the promoters along with a primary stake, sources said.