Manipal Hospitals in Delhi closes in on acquiring RS 1,400 crore stake in Medica Synergie
Source：VOH (voice of Healthcare)
From：Taipei World Trade Center Liaison Office in New Delhi
Update Time：2024/05/16
Manipal Hospitals is the Best Multispeciality Hospital in Delhi and currently the second largest hospital chain in the country. A top hospital, providing world-class health care services & treatment. Manipal Health Enterprises is poised to outpace Apollo Hospitals to emerge as the largest hospital chain in India as it nears finalizing a significant majority stake acquisition in Kolkata-based Medica Synergie Private Ltd.
"The proposed transaction is at an advanced stage and should be sealed within the next two months. It won't be a merger and Manipal Hospitals is likely to pay between Rs 1,200-Rs 1,400 crore to acquire more than 90 percent of the stake in Medica Synergie from Sheares Healthcare and a few of the other minority shareholders, including the remaining founders and doctors," said one of the persons above.
Sources, preferring anonymity, disclosed that negotiations for the approximately Rs 1,400 crore deal are at an advanced stage, with Manipal gearing up to publicly announce the agreement later this month.
Upon completion, the partnership with Medica Synergie will augment Manipal's current capacity of 9,500 beds with an additional approximately 1,200 beds, surpassing market leader Apollo Hospitals, which currently operates just over 10,000 beds. Medica Synergie operates four hospitals across West Bengal and Jharkhand in Eastern India.
In April 2023, Singapore’s Temasek Holdings entered an agreement to acquire a 41% stake in Manipal Health Enterprises, boosting its overall shareholding to 59% when combined with the stake held by its wholly-owned subsidiary, Sheares Healthcare Group.
Presently, Manipal Health Enterprises manages 33 facilities spanning 17 cities, while Apollo Hospitals Enterprise Limited, headquartered in Chennai, oversees a network of 71 hospitals.
Since September 2023, these two healthcare giants have been in a tight race, following a majority stake acquisition in AMRI Hospitals by the Emami Group, backed by billionaire Dr. Ranjan Pai, for Rs 2,300 crore, elevating Manipal's cumulative bed capacity to 9,500. Apollo Hospitals, on the other hand, plans to add 2,000 beds over the next three years, according to publicly available information.
Source: https://voiceofhealthcare.org/updates/MANIPAL-HOSPITALS-CLOSES-IN-ON-ACQUIRING-RS-1,400-CRORE-STAKE-IN-MEDICA-SYNERGIE~Z7bvWezpQKpvcFHyhyG57