Manipal Health Enterprises is exploring a potential move to buy the Indian operations of Columbia Asia for US$219m.
The owner of Columbia Asia, US-based investment management company, Columbia Pacific Management, is looking to exit from its Indian business, according to The Economic Times.
If completed, the deal will see Columbia Asia rebrand as Manipal Hospitals, becoming the second largest hospital chain in India behind Apollo Hospitals.
Last September, Malaysian conglomerate Hong Leong Group and private equity firm TPG won the race to buy Columbia Asia’s 17 hospitals and one clinic in Southeast Asia for US$1.2bn.
The group’s 11 Indian hospitals were not included in the deal, though private equity firm General Atlantic was rumoured to be interested in the business at the time.
Manipal Health Enterprises is a multi-specialty healthcare provider, part of the Manipal Education and Medical Group.
Founded in 1996, Columbia Asia has established a network of hospitals, clinics and extended care facilities across Malaysia, India, Vietnam, and Indonesia.
Manipal Health Enterprises and Columbia Pacific Management have been contacted for comment. – Laingbuisson News