Manipal Health Enterprises is in superior talks to accumulate the Indian operations of the Columbia Asia hospital chain from its US-based homeowners for about Rs 1,600 crore, individuals near the matter instructed ET.
Columbia Pacific Administration, which owns Columbia Asia, is taking a look at an entire exit from its India healthcare enterprise, they mentioned. The 2 sides are more likely to make a proper announcement quickly, the individuals mentioned.
If the deal goes through, Columbia Asia will be rebranded Manipal Hospitals, which will likely become the second largest hospital chain in India with 26 hospitals and nearly 7,000 beds, behind Apollo Hospitals.
Manipal Hospitals chairman H Sudarshan Ballal declined to comment when ET contacted him. Columbia Pacific managing director Nathan McLemore, in an emailed response to ET’s questions, said his company was unable to provide any comment at this time.
“We will definitely notify you if and when we now have one thing we are able to announce,” he mentioned. The individuals ET spoke to mentioned Manipal Training & Medical Group, which owns Manipal Well being, was aiming to launch the chain below its personal model by April subsequent yr, supplied it accomplished the deal by then.
Although the talks have been ongoing for a while, Manipal group executives have been tight-lipped about it, as two comparable makes an attempt prior to now — for Fortis and Medanta — have not materialised after the discussions had proven promise.
Manipal Well being and the Indian operations of Columbia Asia are primarily based in Bengaluru. Billionaire Ranjan Pai-led Manipal Well being runs 15 multispecialty hospitals — in Bengaluru, Delhi, Jaipur, Goa, Salem, Vijayawada and Mangaluru, and in Malaysia.
Private equity firm TPG Capital and Singapore’s sovereign wealth fund Temasek Holdings own about 25% and 18%, respectively, in Manipal Health.