Manipal Hospitals to Acquire Columbia Asia Hospitals from Columbia Pacific Management
Posted on 11/02/2020
Bengaluru-based Manipal Hospital Enterprises Private Limited (Manipal Hospitals) signed a deal to buy Columbia Asia Hospitals for Rs 2,100 crore in an all-cash transaction. The acquisition by Manipal Hospitals will help the company expand its presence in the north and east of India. Combined, Manipal Hospitals and Columbia Asia hospitals will have 7,200 beds and 27 hospitals versus India’s largest hospital chain – Apollo Hospitals, which has 10,261 beds.
The seller of Columbia Asia Hospitals is Seattle-based Columbia Pacific Management. Columbia Asia Hospitals started in 2005.
Manipal Hospitals is part of Manipal Education and Medical Group, which is owned by Dr. Ranjan Pai and has been backed by TPG Capital. Temasek Holdings once owned an 18% stake in Manipal Hospitals from private equity firm True North for around Rs 1,400 crore in September 2017. Temasek sold its position in Manipal Hospitals.