Connect with us

Hospital Watch

Manipal Health Enterprises plans for business expansion

Manipal Health Enterprises plans to expand its business within the next 2 years in order to give its investors TPG Capital and Temasek exits, and to raise funds for business growth. The company has also decided to quit the idea of buying Medanta Medicity under Rs 5800-crore deal, which was valuing Medanta at nearly 26 times of its earnings before interest, taxes, depreciation, and amortization (EBITDA). Earlier, Manipal had lost out to Malaysia’s IHH Healthcare in the race to acquire Fortis Healthcare. Manipal is open for making smaller acquisitions to expand its footprint, besides growing organically. The company did not see any profitable value in buying Medanta for 26 times its latest EBITDA and this would have also delayed its initial public offering (IPO) by another 4 to 5 years.

Copyright © 2024 Medical Buyer

error: Content is protected !!