Manipal Hospitals on Wednesday announced its acquisition of 84 percent stake in AMRI Hospitals Ltd. According to a press statement, the acquisition fits into the growth strategy of Manipal Hospitals to have a larger footprint.
Moreover, it expanded its presence in Eastern India as the largest hospital chain in that region.
“The clinical expertise and infrastructure of AMRI Hospitals combined with synergies of its large network would enable Manipal Hospitals to effectively address the growing demand for high-quality tertiary and quaternary healthcare in Eastern India,” the hospital group said in a statement.
“Manipal Hospitals always had patrons from Eastern India and countries in the region like Bangladesh. This acquisition is in sync with our objective to further strengthen our presence and serve the patients in Eastern India – an underserved area when it comes to healthcare. We are delighted to welcome AMRI Hospitals into the Manipal family. With this addition, Manipal Hospitals would now serve patients in its 17th city in India in Bhubaneswar (Odisha). As a healthcare provider, AMRI has made a mark in the sector with its excellence in healthcare delivery and is a great asset that synergizes well with our core values of clinical excellence, patient centricity, and ethical practices and will help us provide enhanced exceptional quality care,” Dr. Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG), said in a statement.
According to the company’s statement, the acquisition of AMRI Hospitals offers a remarkable geographical fit for Manipal Hospitals.
“Treating nearly 5 lakhs patients annually with the most advanced technology, AMRI is ranked as one of the largest healthcare provider network in Eastern India. The hospital chain has operations in Dhakuria, Mukundapur & Salt Lake (all in Kolkata) and another at Bhubaneswar, Odisha comprising of more than 1,200 beds, over 800 doctors, and 5,000-plus healthcare professionals,” it added.
Together, the combined entity will have 33 hospitals across 17 cities with 9,500 beds, and a talent pool of over 5,000 doctors and 20,000 employees. The advisors for Manipal Health Enterprise Pvt. Ltd. in this initiative were Allegro Capital Advisors, it said.
