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UPDATE:
On April 30, Manipal Hospitals announced that it had completed the acquisition of Columbia Asia Hospitals.]
In the summer of 2020, Ranjan Pai was fighting two battles. On one hand, the chairman of Manipal Education and Medical Group (MEMG) was trying to limit the effects of a national lockdown on his hospital chain, Manipal Hospitals. On the other, the 48-year-old billionaire entrepreneur was trying to salvage a big-ticket acquisition that would kickstart his long-held dream of a pan-India hospital chain.
Then in November, Bengaluru-based Manipal Health Enterprises Private Limited (MHEPL), which runs Manipal Hospitals, announced it would buy Columbia Asia Hospitals in India for about ₹2,200 crore in cash. That will give the predominantly south India-focussed MHEPL a presence in cities such as Kolkata, Gurugram, Ghaziabad, Patiala, and Pune. The combined entity will operate 7,300 beds in 27 hospitals across 15 cities, making it India’s second-largest hospital chain afte
NIIFL invests â¹2,100 cr in Manipal Hospitals The funding comes close on the heels of billionaire entrepreneur Ranjan Pai-led Manipal Hospitals acquiring Columbia Asia Hospitals in India for â¹2,100 crore last November.
Image: Narendra Bisht
Indiaâs sovereign wealth fund, the National Investment and Infrastructure Fund Limited (NIIFL), on Thursday said that it has invested â¹2,100 crore in Bengaluru-headquartered Manipal Hospitals through its private equity fund NIIF Strategic Opportunities Fund (SOF), its first investment in the Indian healthcare sector.
The deal comes close on the heels of billionaire entrepreneur Ranjan Pai-led Manipal Hospitals acquiring Columbia Asia Hospitals in India for â¹2,100 crore last November, making it the countryâs second-largest hospital chain after Chennai-based Apollo Hospitals.
Synopsis
The investment, made through its NIIF Strategic Opportunities Fund (SOF), the direct private equity fund of NIIF, marks SOF’s first investment in the Indian healthcare sector.
Agencies
Manipal Hospitals, headquartered in Bengaluru, has a major presence across India with 15 hospitals and a key focus on tertiary and quaternary care.
India s quasi sovereign wealth fund - National Investment and Infrastructure Fund Limited (NIIFL) has invested Rs 2,100 crore in Manipal Hospitals, one of India’s largest multi-speciality healthcare provider.
The investment, made through its NIIF Strategic Opportunities Fund (SOF), the direct private equity fund of NIIF, marks SOF’s first investment in the Indian healthcare sector.
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