Manipal Chain of Hospitals Secures 84% Stake in AMRI Hospitals
Manipal Hospitals, India's second-largest hospital chain, has completed its purchase of an 84% stake in AMRI Hospitals Ltd. According to a company release, the acquisition fits into Manipal Hospitals' growth strategy of having a larger footprint and expanded presence in eastern India as the largest hospital chain in that region.
"Manipal Hospitals have always had patrons from eastern India and neighboring countries such as Bangladesh." This acquisition aligns with our goal of expanding our presence and serving patients in Eastern India, which is underserved in terms of healthcare," said Dr. Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG).
Manipal Health Enterprise signed a Rs 2,400 crore deal to acquire the Kolkata-based AMRI (Advanced Medical Research Institute) Hospitals after lengthy negotiations and court battles, ET reported in March.
According to the agreement, Manipal will pay about 75% of the transaction now and the remainder after a year. Negotiations between Manipal and AMRI began in 2018.
According to the release, Manipal Hospitals will now serve patients in its 17th city in India, Bhubaneswar (Odisha).
The hospital chain operates in Dhakuria, Mukundapur, and Salt Lake (all in Kolkata) and Bhubaneswar, Odisha, with over 1,200 beds, 800 doctors, and 5,000-plus healthcare professionals.