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Manipal Hospitals

From Wikipedia - Reading time: 4 min

Manipal Hospitals
Company typePrivate
IndustryHealthcare
Founded1953; 71 years ago (1953)
FounderT. M. A. Pai
HeadquartersBangalore, Karnataka, India
Number of locations
33 (2022)
Key people
ProductsHospitals, Pharmacy, Diagnostic centres
RevenueIncrease ₹4,806 crore (US$580 million) (FY23)[2]
Increase ₹1,279 crore (US$150 million) (FY23)[2]
Owner
DivisionsAMRI Hospitals
Medica Hospitals
Websitewww.manipalhospitals.com

Manipal Health Enterprises,[5] commonly known as Manipal Hospitals, is an Indian for-profit private hospital network headquartered in Bangalore, Karnataka. The hospitals trace their origins to the Kasturba Medical College, founded by T. M. A. Pai in 1953.[6] Manipal Hospitals is the second largest healthcare provider in India,[7] with a network of 33 hospitals.[1] Manipal Hospitals is part of the Manipal Education and Medical Group.[8]

History

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In 1953, T. M. A. Pai founded the Kasturba Medical College in coastal Karnataka. The college operated as a public private partnership by using the government hospitals in Mangalore. Dr. Pai was an Indian doctor, educationist and philanthropist and was awarded the Padma Shri by the Government of India in 1972.[9]

The first branch of Manipal Hospitals was started in 1991 in Bangalore. The branch is a 600-bed quaternary care facility and houses over 60 specialties. In 1997, Manipal Hospitals, Mangalore was established, this 251-bed tertiary care hospital is named KMC Hospital, a teaching hospital of the Kasturba Medical College, Mangalore.[10]

In April 2021, Manipal Hospitals announced the sale of its only hospital outside India, Manipal Hospital Klang, Malaysia, to Ramsay Sime Darby Health Care for a reported ₹700 crore (US$94.47 million).[11]

In 2021, Manipal Hospitals completed the acquisition of Columbia Asia's 11 hospitals in India for ₹2,100 crore.[12][13] All Columbia Asia hospitals were subsequently rebranded as Manipal Hospitals.[14] In 2021, Manipal Hospitals acquired Vikram Hospital in Bangalore for ₹350 crore.[15]

In 2022, Manipal Hospitals group company Manipal HealthMap acquired a majority stake in diagnostics company Medcis PathLabs.[16]

In 2023, Temasek Holdings-backed Sheares Healthcare India acquired a 41% stake in Manipal Hospitals for about ₹16,000 crore (US$1.9 billion), to increase its shareholding to 59% and become the controlling stakeholder in the hospital chain. The acquisition valued the hospital chain at around ₹40,000 crore (US$4.8 billion).[17]

In 2023, Manipal Hospitals acquired an 84% controlling stake in AMRI Hospitals for ₹2,300 crore (US$280 million).[18]

In April 2024, Manipal Hospitals acquired 87% stake in Medica Synergie Hospitals with ₹1,400 crores investment.[19][20]

See also

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References

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  1. ^ a b Nair, Geeta (16 August 2022). "Manipal Hospitals expands footprint with new facility in Pune". Financial Express. Retrieved 26 November 2022.
  2. ^ a b "India Ratings Upgrades Manipal Health Enterprises' Bank Facilities to 'IND AA'/Stable; Rates Additional Limits". India Ratings and Research. Retrieved 14 December 2023.
  3. ^ "Temasek sells 8% stake in Manipal Health to Mubadala, others". Mint. Retrieved 17 June 2024.
  4. ^ "Confirmed: Singapore's Temasek to pick up 41% stake in Manipal Hospitals". Moneycontrol. Retrieved 10 April 2023.
  5. ^ Das, Sohini (13 October 2022). "Manipal Health may launch IPO after deal to buy AMRI Hospitals". Business Standard. Retrieved 13 November 2022.
  6. ^ "Forbes India - How Ranjan Pai Is Striving To Make Manipal Hospitals India's Biggest Health Care Player". Forbes India. Retrieved 29 May 2022.
  7. ^ "Manipal takes over Columbia Asia, emerges second largest healthcare chain". The Economic Times.
  8. ^ Vinayak, A. J. (18 July 2021). "Manipal Hospitals: Big buys, big league". The Hindu Business Line. Retrieved 13 November 2022.
  9. ^ "The Education Barons Of Manipal". Businessworld. Retrieved 14 November 2022.
  10. ^ "Hospital | Kasturba Medical College, Mangalore - Manipal Academy of Higher Education". manipal.edu.
  11. ^ "Manipal Health sells its Malaysian hospital to Ramsay Sime Darby Healthcare". The Economic Times. 10 April 2021. Retrieved 3 February 2023.
  12. ^ "Manipal Hospitals completes acquisition of Columbia Asia". The Hindu. 30 April 2021. ISSN 0971-751X. Retrieved 29 October 2021.
  13. ^ "Manipal Hospitals set to acquire Columbia Asia Hospitals for ₹2,100 cr". The Hindu. 2 November 2020. Retrieved 14 November 2022.
  14. ^ "Columbia Asia rebranded as Manipal Hospitals". The Times of India. 19 November 2021. Retrieved 3 February 2023.
  15. ^ "Manipal Hospitals acquires Vikram Hospital for ₹350 crore". The Hindu. 3 June 2021.
  16. ^ "Manipal Hospitals group acquires Hyderabad-based Medcis PathLabs". Moneycontrol. Retrieved 13 November 2022.
  17. ^ "Singapore's Temasek buys majority stake in Manipal Hospitals for $2 billion". Economic Times. 8 April 2023. Retrieved 8 April 2023.
  18. ^ "Manipal Hospitals acquire 84% stake in Emami Group's firm AMRI Hospitals for Rs 2300 cr". CNBC TV18. 21 September 2023. Retrieved 2 December 2023.
  19. ^ Pal, Priyasi. "Manipal Hospitals Acquires Medica Synergie, Solidifying Presence in Eastern India". Bru Times News.
  20. ^ "Manipal Hospitals acquires majority stake in Medica Synergie". The Hindu. 29 April 2024.
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