Manipal Hospitals Expands Its Reach with Acquisition of Medica Synergie!
Reported by Deeksha
In a recent development, Manipal Hospitals, the renowned hospital chain, has acquired an impressive 87% stake in Medica Synergie, a well-known hospital chain based in Kolkata. This strategic move aligns perfectly with Manipal Hospitals’ goal of spreading its influence in Eastern India and becoming the region’s top hospital chain.
Although the exact figures haven’t been disclosed, sources suggest that the deal values Medica Synergie at a whopping Rs 1200 crore. The acquisition was made from Sheares Health, a healthcare platform under Singapore’s Temasek Holdings, which happens to be the majority stakeholder in Manipal Hospitals.
By joining forces with Medica Synergie, Manipal Hospitals aims to leverage its clinical expertise and infrastructure to cater to the growing demand for high-quality healthcare services in Eastern India. This isn’t the first time Manipal Hospitals has expanded its presence in the region; last year, they acquired an 84% stake in AMRI Hospitals Ltd., a Kolkata-based hospital under the Emami Group.
With the addition of Medica Synergie, Manipal Hospitals now serves an impressive 7 million patients annually across 37 hospitals in 19 cities spanning 14 states. This acquisition has also increased the hospital bed count from over 9,500 to over 10,500, further solidifying Manipal Hospitals’ position as a healthcare leader in Eastern India.
Dilip Jose, the MD & CEO of Manipal Hospitals, expressed excitement about the acquisition, stating that they plan to integrate Medica Synergie into their portfolio and rebrand it. Together, they aim to deliver exceptional quality healthcare to patients across Eastern India, including in cities like Kolkata, Siliguri, and Ranchi.
Last year, Temasek Holdings made headlines by acquiring an additional 41% stake in Manipal Health Enterprises, making them the largest shareholder. This deal, valued at Rs 16,500 crore, positioned Temasek as the controlling shareholder in Manipal Hospitals.
Overall, this acquisition marks a significant milestone for Manipal Hospitals as they continue to expand their reach and meet the healthcare needs of Eastern India.”
