38.6c New Delhi, India, Friday, March 29, 2024
Business

Manipal Hospitals to acquire 100% stake in Columbia Asia Hospitals in India

By Jishu      03 November, 2020 04:29 PM      0 Comments
Manipal Hospitals to acquire 100% stake in Columbia Asia Hospitals in India

Manipal Hospitals, one of India's largest multi-specialty healthcare providers, will acquire a 100% stake in Columbia Asia Hospitals Private Limited (Columbia Asia). The acquisition will help Manipal Hospitals expand its footprint and foray into East India. Together, the combined entity will have a presence of 27 hospitals across 15 cities with over 7,300 beds and a pool of over 4,000 doctors and over 10,000 employees.

The transfer of ownership to Manipal Hospitals is expected to complete post regulatory approvals. "The strong clinical expertise and breadth of services of Manipal Hospitals, complemented by the strengths of Columbia Asia in clinical and service quality, will ensure that the integrated organization would be uniquely placed to improve access and address the growing demand for high quality tertiary and quaternary healthcare in the country," Manipal Hospitals said in a statement.

It said the "strong clinical expertise and breadth of services" of Manipal Hospitals, complemented by the strengths of Columbia Asia in clinical and service quality, will place the combined entity in a unique position.

"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," Dr. Ranjan Pai, Chairman, Manipal Education, and Medical Group (MEMG) said.

Started in 2015, Columbia Asia Hospitals currently operates 11 hospitals across the country, including in Bangalore, Mysore, Kolkata, Gurugram, Ghaziabad, Patiala, and Pune. The network comprises over 1,300 beds, 1,200 clinicians, and 4,000 employees.

Dan Baty, Chairman, Columbia Pacific Management said the combination of Columbia Asia and Manipal Hospitals is "very exciting" because of the strong cultural alignment between the two companies - and the opportunity it provides for continued growth.

The acquisition of Columbia Asia will provide Manipal Hospitals a larger national footprint. "Treating over 4 million patients annually, it would rank amongst the largest healthcare provider networks in the country," Manipal Hospitals said. The advisers for Manipal Health Enterprise was Allegro Capital and Columbia Pacific was advised by Morgan Stanley.



Share this article:



Leave a feedback about this
TRENDING NEWS

arvind-kejriwals-plea-for-interim-release-rejected-by-delhi-high-court
Trending Judiciary
Arvind Kejriwal's plea for interim release rejected by Delhi High Court [Read Order]

Delhi High Court rejects Arvind Kejriwal's plea for interim release in money laundering case related to liquor policy scam, pending ED's response.

28 March, 2024 10:50 AM
youtuber-strings-plea-against-youtube-accounts-suspension-andhra-pradesh-hc-issues-notice-to-centre-google
Trending Top Stories
BREAKING: Youtuber String’s plea against Youtube accounts suspension: Andhra Pradesh HC issues notice to Centre, Google

Andhra Pradesh High Court issues notice to the Centre and Google LLC on Youtube journalist String’s plea against suspension of its accounts by Google (which owns Youtube).

28 March, 2024 11:26 AM

TOP STORIES

delhi-liquor-scam-court-remands-arvind-kejriwal-to-ed-custody-till-march-28-read-remand-application
Trending Judiciary
Delhi liquor scam: Court remands Arvind Kejriwal to ED custody till March 28 [Read Order]

Delhi liquor scam: Arvind Kejriwal remanded to ED custody till March 28. Court grants agency permission for interrogation in liquor policy case.

23 March, 2024 11:53 AM
sc-dismisses-centres-plea-for-review-of-judgment-directing-ed-to-furnish-written-grounds-of-arrest-to-pmla-accused
Trending Judiciary
SC dismisses Centre’s plea for review of judgment directing ED to furnish written grounds of arrest to PMLA accused [Read Order]

Supreme Court dismisses Centre's plea, upholds judgment mandating Enforcement Directorate to provide written grounds of arrest in PMLA cases.

23 March, 2024 03:14 PM
kerala-hc-to-hear-lesbian-couples-plea-against-forced-conversion-therapy-on-april-9
Trending Judiciary
Kerala HC to hear lesbian couple’s plea against forced conversion therapy on April 9

Kerala HC will hear a lesbian couple’s plea highlighting that one of them was subjected to forced conversion therapy.

23 March, 2024 03:30 PM
how-can-people-be-compelled-to-vote-madras-hc-asks
Trending Judiciary
“How can people be compelled to vote? Madras HC asks

“How can people be compelled to vote?”, the Madras HC queried in a plea asking employers in Tamil Nadu to demand proof from employees of having voted on polling day.

23 March, 2024 05:04 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email