Manipal buys AMRI Hospitals for Rs 2.4K crore

Manipal Health Enterprises has bought AMRI (Advanced Medical Research Institute) Hospitals in Kolkata for Rs 2,400 crore.

Under the agreement, Manipal will pay 75% of the money after signing the deal. The rest of the 25 percent will be paid after a year.

With this deal, Manipal is set to become the largest hospital chain in India. Its bed capacity has increased to 9,500.

Emami owns a 98 percent share of AMRI, while the West Bengal government owns the remaining 2 percent.

Earlier, Manipal decided to purchase AMRI for Rs. 1,800 crore. Later Emami Group pulled out of the deal prompting Manipal to start arbitration proceedings.

Last November, Manipal filed a petition with the Delhi High Court praying for enjoining Emami Group from selling or transferring its ownership of AMRI to a third party or changing the organization’s management while the arbitration is still pending.

Earlier, the company bought Indian assets of Columbia Asia Hospitals for Rs 2,100 crore. In 2021, it paid Rs 350 crore to buy Vikram Hospitals.
MB Bureau