Mubadala, Brunei may pick stake in Manipal Health
₹16,400 crore in one of the largest hospital deals in India. At the time, investor TPG sold half of its stake while India’s National Investment and Infrastructure Fund sold its entire 8% stake, valuing Manipal at around ₹40,000 crore ($4.88 billion).
Manipal Education and Medical Group Pvt. Ltd retains around 31% of the company, with TPG holding around 10-11%.
A spokesperson for Temasek declined to comment, while Manipal Hospitals, Mubadala and Brunei Investment Agency did not respond to requests for comments. Since the transaction was struck in April, Manipal has acquired another asset, which is expected to add ₹1,000 crore to its revenue in FY24.
Last week, Manipal Health announced it had acquired an 84% stake in Emami Group’s Amri Hospitals for around ₹2,300 crore in a deal that would also see the hospital chain taking on Amri’s debt on its books. Manipal reported total revenue of around ₹4,500 crore for FY23.
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