Manipal Hospitals signs binding pact to acquire 87% stake in Medica Synergie

Manipal Hospitals, the second-largest hospital chain in India, on Monday announced the signing of a binding agreement to acquire 87 per cent stake in Kolkata-based hospital chain Medica Synergie.

Post a few customary processes, the transaction is expected to be consummated shortly, according to a company statement. According to sources, the transaction value of Manipal-Medica deal is around ₹1,400 crore.

“This acquisition is in line with Manipal Hospitals’ strategy of expanding its footprint and presence in eastern India as the leading hospital chain in the region,” the hospital chain major said.

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By leveraging the clinical expertise and infrastructure of Medica Synergie, along with the combined operations of its extensive network, Manipal Hospitals will be well-positioned to meet the increasing demand for high quality tertiary and quaternary healthcare services in Eastern India, it said.

Expanding footprint

Commenting on the transaction, Dilip Jose, MD and CEO said, “We are delighted to welcome Medica Synergie with its highly talented team of professionals into the Manipal family. With this acquisition Manipal Hospitals builds on its strong presence in eastern India, enabling us to expand our reach and meet the healthcare needs of this under-served region.”

Manipal Hospitals will integrate Medica Synergie into its portfolio and rebrand it.

“Together, we are poised to deliver enhanced, exceptional quality healthcare to our patients across Eastern India, including the cities of Kolkata, Siliguri, and Ranchi,” Jose said.

With the acquisition of Medica, Manipal Hospitals will treat 7 million patients annually across 37 hospitals spanning 19 cities in 14 states. The addition of Medica has pushed the current hospital bed count from over 9,500 to over 10,500.

With a talented pool of over 5600 doctors, along with an employee strength exceeding 18,600, Manipal Hospitals is steadfast in its commitment to clinical excellence, patient-centric care, and ethical practices, the statement said.

Notably, in September, 2023, Manipal Hospitals had acquired an 84 per cent stake in Emami Group’s AMRI Hospitals.

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