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

Manipal Hospitals, a private healthcare provider based in Karnataka, announced its acquisition of an 87% stake in Kolkata's Medica Synergie, marking a significant expansion in the Indian healthcare sector. 

The move positions Manipal as the largest hospital chain in the country, surpassing Apollo Hospitals with a new total of over 10,500 beds. As of March 31, 2024, Apollo Hospitals has a total of 10,103 beds. 

Enhancing Presence in Eastern India

According to media reports, The transaction is valued at approximately Rs 1,400 crore and is part of Manipal Hospitals' strategic initiative to enhance its presence in Eastern India, encompassing key regions such as Kolkata, Siliguri, and Ranchi. 

It's worth noting that the acquisition does not include Medica Synergie's digital examinations business.

Leadership Comments

Dilip Jose, MD & CEO of Manipal Hospitals, said, “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, reinforcing our commitment to providing high-quality healthcare services.”

Strengthening network across India

The acquisition is aligned with Manipal Hospitals' goal to strengthen its network across India and to support the growing demand for high-quality medical services. The addition of Medica Synergie is expected to enhance Manipal Hospitals' capabilities in delivering advanced healthcare solutions and to further its mission of reaching more patients across the region.

Allegro Capital Advisors, Khaitan and Co., and KPMG facilitated the acquisition, which advised Manipal Health Enterprise Pvt. Ltd. on the transaction. The strategic move is backed by Singapore-based investment company Temasek, which supports Manipal Hospitals in its ongoing expansion efforts.