Manipal Hospitals to Acquire 100% Stake in Columbia Asia Hospitals, Combined Entity to Have 27 Hospitals in India
The combined entity will have 27 hospitals across 15 cities with more than 7,300 beds and a pool of 4,000 plus doctors. The company will have a staff of over 10,000 and will treat over 4 million patients annually.
- Last Updated: November 02, 2020, 12:43 IST
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Manipal Hospitals would acquire a 100 percent stake in Columbia Asia Hospitals Private Limited that has 11 hospitals in India, spread across seven cities.
After the regulatory approvals, the transfer of ownership to Manipal Hospitals would be completed. "We are very pleased to welcome Columbia Asia Hospitals to the Manipal family and proudly acknowledge their outstanding track record of healthcare delivery of a very high standard over the years,” Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), said.
This is the start of an exceptional journey for us and together with Columbia Asia, we are now bigger, stronger and uniquely positioned to meet the growing expectations of the communities we serve across the country, he added.
This acquisition of Columbia Asia further promotes Manipal Hospitals' excellence in the delivery of healthcare services with an enhanced pan-India footprint, a CNBC report states. Allegro Capital Pvt. Ltd. were the advisors for Manipal Health Enterprise Pvt. Ltd. while Columbia Pacific was advised by Morgan Stanley.
Commenting on the deal, Dan Baty, Chairman of Columbia Pacific Management told CNBC, "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.”
Now, the combined entity will have 27 hospitals across 15 cities with more than 7,300 beds and a pool of 4,000 plus doctors. The company will have a staff of over 10,000 and will treat over 4 million patients annually -- ranking amongst the largest healthcare provider networks in India.