Manipal Hospitals set to acquire Columbia Asia Hospitals for ₹2,100 cr
The combined entity will have a presence of 27 hospitals across 15 cities with 7,200+ beds, 4,000+ doctors, 10,000+ employees.
Manipal Hospitals, a multi-specialty healthcare provider, on Monday entered into a definitive agreement to acquire 100% stake in Columbia Asia Hospitals Private Limited (Columbia Asia).
The arrangement is esteemed at ₹2,100 crores, according to showcase sources. This makes Manipal Hospitals, the nation’s second-biggest medical care chain, after Apollo Hospitals.
Remarking on the arrangement, Dr. Ranjan Pai, Chairman, Manipal Education, and Medical Group (MEMG), stated, “Columbia Asia makes a convincing vital fit to our basic beliefs of clinical greatness, persistent centricity, and moral practices, and will assist us with propelling our duty to give extraordinary patient consideration.”
“This is the beginning of an uncommon excursion for us and along with Columbia Asia, we are presently greater, more grounded, and particularly situated to meet the developing desires for the networks we serve the nation over,” he added.
Columbia Asia Hospitals initiated tasks in India in 2005 in Hebbal, Bengaluru and as of now works 11 emergency clinics the nation over in Bengaluru, Mysore, Kolkata, Gurugram, Ghaziabad, Patiala, and Pune. The organization involves more than 1,300 beds, 1,200 clinicians, and 4,000 representatives.
Sharing his perspectives on the exchange, Dan Baty, Chairman, Columbia Pacific Management stated, “From the very beginning, we zeroed in on building a culture of putting the patient first to convey the best medical care with trustworthiness and outstanding help. This blend of Columbia Asia and Manipal Hospitals is energizing a direct result of the solid social arrangement between the two organizations – and the open door it accommodates proceeded with development.”
The securing of Columbia Asia gives Manipal Hospitals a bigger public impression. Together, the consolidated substance will have 27 emergency clinics across 15 urban areas with 7,200+ beds, and a skilled pool of 4,000+ specialists and 10,000+ representatives. Treating more than 4,000,000 patients yearly, it would rank among the second biggest medical services supplier networks in the nation.
The exchange of proprietorship to Manipal Hospitals was relied upon to be finished post administrative endorsements, said an official explanation.
The consultants for Manipal Health Enterprise was Allegro Capital Pvt. Ltd. also, Columbia Pacific was exhorted by Morgan Stanley.
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