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Wednesday, November 25, 2020

Manipal Hospitals to acquire Columbia Asia Hospitals for Rs 2,000 crore

Manipal Hospitals said the acquisition offers it a "remarkable geographical and cultural fit", and provides a larger national footprint.

By: PTI | Bengaluru | Updated: November 2, 2020 3:01:43 pm
west bengal coronavirus cases, bengal covid cases, bengal covid deaths, bengal coronavirus latest updatesKeeping with the trend, a bulk of the latest cases and deaths were recorded in the South Bengal pandemic epicentre comprising Kolkata, its three neighbouring districts, and Hooghly.(Representative/source: Bloomber)

Manipal Hospitals on Monday announced its intent to acquire 100 per cent stake in Columbia Asia Hospitals Private Limited (Columbia Asia) for about Rs 2,000 crore.

Manipal Hospitals said the acquisition offers it a “remarkable geographical and cultural fit”, and provides a larger national footprint.

“Cost of the acquisition is Rs 2,000 crore plus,” sources in Manipal Hospitals told PTI.

Together, the combined entity will have 27 hospitals across 15 cities with 7,200-plus beds, and a pool of 4,000-plus doctors and 10,000-plus employees, it said in a statement.

Treating over four million patients annually, it would rank amongst the largest healthcare provider networks in the country, it said.

The transfer of ownership to Manipal Hospitals is expected to be completed post regulatory approvals.

Dr. Ranjan Pai, Chairman, Manipal Education and Medical Group,said,”Columbia Asia makes a compelling strategic fit to our core values of clinical excellence, patient centricity and ethical practices, and will help us advance our commitment to provide outstanding patient care.”

Columbia Asia Hospitals commenced operations in India in 2005 in Hebbal, Bengaluru and presently operates 11 hospitals across the country in Bengaluru, Mysuru, Kolkata, Gurugram, Ghaziabad, Patiala and Pune.

The network comprises over 1,300 beds, 1,200 clinicians and 4,000 employees, it said.

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