Ontario Teachers’ sells its stake in Sahyadri Hospitals Group to Manipal Hospitals

Ontario Teachers’ acquired a majority stake in Sahyadri in 2022 and, since then, has supported its growth into one of India’s leading regional healthcare platforms. Sahyadri is one of Maharashtra’s largest hospital chains, with 11 hospitals and over 1,400 beds.

An official statement issued on Wednesday said the investment was made by Ontario Teachers’ Private Capital team, in partnership with the management led by Managing Director and CEO of Sahyadri Hospitals Abrarali Dalal.

Sahyadri has undergone a significant transformation over the past three years, growing both organically and through strategic mergers and acquisitions.

Ontario Teachers’ has supported the business in building clinical leadership and attracting medical talent in key specialties while making sustained capital investments into infrastructure, medical equipment, specialty programmes and institutional governance.

The platform has also expanded its reach in smaller cities of Maharashtra, enabling the delivery of high-quality quaternary care across Maharashtra and neighbouring areas.

Deepak Dara, senior managing director and head of India, Ontario Teachers’, in a statement, said, “Healthcare is a key investment theme for us globally and in India. Drawing on our global experience and playbook of investing in healthcare services, we saw the potential to build on

Sahyadri’s strong brand to create a regional healthcare leader. Our partnership with Sahyadri over the past three years underscores our belief in India’s growing healthcare needs and our commitment to empowering local champions in delivering high-quality, accessible care. We wish the Sahyadri team continued success as they transition into their next phase.”

“When Ontario Teachers’ invested, our intention was to create a formidable regional player with the infrastructure, medical equipment and clinical excellence to enable high-quality medical care in cities across the region. Backed by strong shareholder support, we have been able to invest over Rs 900 crores since 2022, leveraging our combined expertise to drive the transformation of Sahyadri. We have enjoyed a great partnership with the Ontario Teachers’ team and are optimistic about the platform’s continued positive impact on healthcare delivery,” said Dalal.

Dr. Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG) said, “This acquisition will strengthen our presence in western India. With this expansion, Manipal Hospitals will have a network of approximately 12,000 beds nationwide, solidifying our position as one of the largest hospital chains in India.”