Manipal Hospitals acquires 87% stake in Kolkata's Medica Synergie

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₹1,400 crore. The latest acquision will see the Karnataka-based hospital chain increase its bed count from 9,500 currently to more than 10,500, making it the largest healthcare group in the country, it said in a statement. Earlier, Apollo Hospitals was the biggest hospital chain in the country with around 10,103 owned and operated beds as of 31 March 2024.

This acquisition also aligns with Manipal Hospitals' strategy of expanding its footprint and presence in Eastern India, including Kolkata, Siliguri, and Ranchi, said Dilip Jose, MD & CEO. “With this acquisition Manipal Hospitals builds on its strong presence in Eastern India, enabling us to expand our reach and meet the healthcare needs of this under-served region. We will integrate Medica Synergie into our portfolio and rebrand it," Jose added.

Backed by the Singapore-based Investment company, Temasek, Manipal Hospitals expects to consummate the transaction after the completion of a few customary processes. With the acquisition of Medica, Manipal Hospitals will have 37 hospitals spanning across19 cities in 14 states. This acquisition signifies yet another significant investment by a hospital chain aiming to broaden its presence in the country.

Last year, the hospital group also announced a similar acquisition of an 84% stake in Emami Group's Kolkata-based AMRI Hospitals Ltd. Manipal is not the first one to announce and undertake capacity expansion. Hospital chains like Aster DM, Max Hospitals, and Paras Health have announced similar plans in the recent past.