Novo Holdings and California Public Employees' Retirement System (CalPERS) are the other new investors in Manipal Health Enterprises, according to a release by the hospital chain.
The company is looking at both greenfield hospitals and acquisitions for its expansion, CEO Dilip Jose said but did not disclose the investments lined up for the purpose.
IPO-bound Manipal Health Enterprises, which has nearly 8,000 beds across 28 hospitals, has been on a consolidation drive in the past few years with the acquisition of the Indian assets of Columbia Asia Hospitals and Bengaluru Vikram Hospitals
TPG Capital picked up a stake in Manipal Hospitals for Rs 900 crore in February 2015 and has been looking to clock returns on its 7 year old bet. India’s sovereign wealth fund NIIF is the other external investor in the Ranjan Pai-led hospital chain
The deal would value the hospital chain above $4 billion. For TPG, which first acquired a 24.75 percent stake for Rs 900 crore in Manipal Health in 2015, this deal will generate multi-fold returns
MHEPL operates a network of hospitals, providing multi-specialty care. Apart from Malaysia, MHEPL is not engaged in any business activity outside India.
Manipal-TPG is likely to offer a valuation of Rs 6,000 crore for Medanta
Manipal and TPG together will be investing around Rs 3,300 crore in the deal for Fortis Healthcare.
With Manipal Hospital Enterprise getting the go-ahead from Fortis Healthcare's Board to take over the latter's hospitals, here's a list of major mergers and acquisitions in the pharmaceuticals sector.
On Future of Work watch, Ekhlaque Bari of Max Life Insurance and Nandkishor Dhomne of Manipal Health Enterprises discuss the challenges and opportunities in embracing technology to drive up workforce productivity.
According to early data from Venture Intelligence, a research service focused on private company financials, transactions and their valuations, the investment in the said quarter registered a year-on-year jump, but declined on a quarter-on-quarter basis.
In a joint statement announcing the completion of the transaction, Manipal Group CEO and MD Ranjan Pai said: "This is a significant foreign investment into the Indian healthcare industry, which is worth over USD 80 billion.
India is all set to become one of the top economies of the world and Asia‘s next super power. India‘s growing market of 1.2 billion people with an average age of 25 an economy capable of generating a GDP of 8.5% and a middle-class of 250 million people have experts‘ confidence that India will grow rapidly in coming decade.
Hospital Information System helps improve operational efficiency and enhance business processes.
Ex-Infy man Mohandas Pai joins Ranjan Pai to write a fresh chapter in Manipal University’s book