Manipal Hospitals acquires 84% stake in Emami Group firm AMRI Hospitals

Manipal Hospitals on September 20 said it has acquired 84 per cent stake in Emami Group firm AMRI Hospitals Ltd for an undisclosed sum. Kolkata-based Emami Group will retain 15 per cent stake in AMRI Hospitals and continue as an investor in AMRI Hospitals.

The acquisition will help Manipal Hospitals enhance its presence in east India and the combined entity will have 33 hospitals across 17 cities, the company said in a statement. The clinical expertise and infrastructure of AMRI Hospitals, combined with synergies of its large network, would enable Manipal Hospitals to effectively address the growing demand for high-quality tertiary and quaternary healthcare in eastern India, it said.

"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," Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said. Emami Group Directors Aditya Agarwal and Manish Goenka said the group has divested its majority stake in AMRI Hospitals, but will continue as an investor with 15 per cent stake.

"The government of West Bengal will also have (around) 1 per cent stake in AMRI Hospitals," they said. AMRI is among the major healthcare providers network in eastern India with operations in Dhakuria, Mukundapur and Salt Lake (in Kolkata) and another in Bhubaneswar, with over over 1,200 beds and more than 800 doctors, and 5,000-plus healthcare professionals.