Manipal Hospitals

Manipal Hospitals
Company typePrivate
IndustryHealthcare
Founded1953; 71 years ago (1953)
FounderT. M. A. Pai
HeadquartersBangalore, Karnataka, India
Number of locations
33 (2022)
Key people
ProductsHospitals, Pharmacy, Diagnostic centres
RevenueIncrease ₹4,806 crore (US$580 million) (FY23)[2]
Increase ₹1,279 crore (US$150 million) (FY23)[2]
Owner
DivisionsAMRI Hospitals
Medica Hospitals
Websitewww.manipalhospitals.com

Manipal Health Enterprises,[5] commonly known as Manipal Hospitals,[6] is an Indian for-profit private hospital network headquartered in Bangalore, Karnataka. The hospitals trace their origins to the Kasturba Medical College, founded by T. M. A. Pai in 1953.[7] Manipal Hospitals is the second largest healthcare provider in India,[8] with a network of 33 hospitals.[1] Manipal Hospitals is part of the Manipal Education and Medical Group.[9]

History

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In 1953, T. M. A. Pai founded Kasturba Medical College in coastal Karnataka. The college operated as a public-private partnership utilizing the government hospitals in Mangalore. Dr. Pai was an Indian doctor, educationist, and philanthropist who was awarded the Padma Shri by the Government of India in 1972.[10]

The first branch of Manipal Hospitals was established in Bangalore in 1991. This branch is a 600-bed quaternary care facility that houses over 60 specialties. In 1997, Manipal Hospitals, Mangalore, was established. This 251-bed tertiary care hospital named KMC Hospital, a teaching hospital for Kasturba Medical College, Mangalore.[11]

In April 2021, Manipal Hospitals announced the sale of its only hospital outside India, Manipal Hospital Klang in Malaysia, to Ramsay Sime Darby Health Care for ₹700 crore (US$94.47 million).[12]

In 2021, Manipal Hospitals acquired Columbia Asia's 11 hospitals in India for ₹2,100 crore.[13][14] All Columbia Asia hospitals were later rebranded as Manipal Hospitals.[15] In 2021, Manipal Hospitals acquired Vikram Hospital in Bangalore for ₹350 crore.[16]

In 2022, Manipal Hospitals group company Manipal HealthMap acquired a majority stake in diagnostics company Medcis PathLabs.[17]

In 2023, Temasek Holdings-backed Sheares Healthcare India acquired a 41% stake in Manipal Hospitals for about ₹16,000 crore (US$1.9 billion), increasing its shareholding to 59% and becoming the controlling stakeholder in the hospital chain. The acquisition valued the hospital chain at around ₹40,000 crore (US$4.8 billion).[18]

In 2023, Manipal Hospitals acquired an 84% controlling stake in AMRI Hospitals for ₹2,300 crore (US$280 million).[19]

In April 2024, Manipal Hospitals acquired 87% stake in Medica Synergie Hospitals with ₹1,400 crores investment.[20][21]

See also

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References

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  1. ^ a b Nair, Geeta (16 August 2022). "Manipal Hospitals expands footprint with new facility in Pune". Financial Express. Retrieved 26 November 2022.
  2. ^ a b "India Ratings Upgrades Manipal Health Enterprises' Bank Facilities to 'IND AA'/Stable; Rates Additional Limits". India Ratings and Research. Retrieved 14 December 2023.
  3. ^ "Temasek sells 8% stake in Manipal Health to Mubadala, others". Mint. Retrieved 17 June 2024.
  4. ^ "Confirmed: Singapore's Temasek to pick up 41% stake in Manipal Hospitals". Moneycontrol. Retrieved 10 April 2023.
  5. ^ Das, Sohini (13 October 2022). "Manipal Health may launch IPO after deal to buy AMRI Hospitals". Business Standard. Retrieved 13 November 2022.
  6. ^ Bell, Jamie (10 December 2024). "Manipal Hospitals successfully performs eastern India's first AI-powered wireless pacemaker insertion". Cardiac Rhythm News. Retrieved 16 December 2024.
  7. ^ "Forbes India - How Ranjan Pai Is Striving To Make Manipal Hospitals India's Biggest Health Care Player". Forbes India. Retrieved 29 May 2022.
  8. ^ "Manipal takes over Columbia Asia, emerges second largest healthcare chain". The Economic Times.
  9. ^ Vinayak, A. J. (18 July 2021). "Manipal Hospitals: Big buys, big league". The Hindu Business Line. Retrieved 13 November 2022.
  10. ^ "The Education Barons Of Manipal". Businessworld. Retrieved 14 November 2022.
  11. ^ "Hospital | Kasturba Medical College, Mangalore - Manipal Academy of Higher Education". manipal.edu.
  12. ^ "Manipal Health sells its Malaysian hospital to Ramsay Sime Darby Healthcare". The Economic Times. 10 April 2021. Retrieved 3 February 2023.
  13. ^ "Manipal Hospitals completes acquisition of Columbia Asia". The Hindu. 30 April 2021. ISSN 0971-751X. Retrieved 29 October 2021.
  14. ^ "Manipal Hospitals set to acquire Columbia Asia Hospitals for ₹2,100 cr". The Hindu. 2 November 2020. Retrieved 14 November 2022.
  15. ^ "Columbia Asia rebranded as Manipal Hospitals". The Times of India. 19 November 2021. Retrieved 3 February 2023.
  16. ^ "Manipal Hospitals acquires Vikram Hospital for ₹350 crore". The Hindu. 3 June 2021.
  17. ^ "Manipal Hospitals group acquires Hyderabad-based Medcis PathLabs". Moneycontrol. Retrieved 13 November 2022.
  18. ^ "Singapore's Temasek buys majority stake in Manipal Hospitals for $2 billion". Economic Times. 8 April 2023. Retrieved 8 April 2023.
  19. ^ "Manipal Hospitals acquire 84% stake in Emami Group's firm AMRI Hospitals for Rs 2300 cr". CNBC TV18. 21 September 2023. Retrieved 2 December 2023.
  20. ^ Pal, Priyasi. "Manipal Hospitals Acquires Medica Synergie, Solidifying Presence in Eastern India". Bru Times News.
  21. ^ "Manipal Hospitals acquires majority stake in Medica Synergie". The Hindu. 29 April 2024.
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