Bengaluru-based Manipal Hospitals on Wednesday announced the acquisition of 84 percent stake in AMRI Hospitals. The acquisition is in keeping with Manipal Hospitals’ growth strategy to have a larger footprint and expanded presence in Eastern India as the largest hospital chain in the region. Through this acquisition, Manipal Hospitals aims to effectively utilise the clinical expertise, infrastructure, and large network of AMRI Hospitals to address the growing demand for high-quality tertiary and quaternary healthcare in Eastern India, according to a release.
The acquisition will help Manipal Hospitals enhance its presence in Eastern India. Combined entity to have 33 hospitals across 17 cities.
Emami Group directors Aditya Agarwal and Manish Goenka said that the conglomerate has divested its majority stake in AMRI Hospitals. The conglomerate will, however, continue to remain an investor in AMRI Hospitals through a minority stake of 15 per cent. They also said that the West Bengal government will also have around 1 per cent stake in AMRI Hospitals.
“It was important for us to identify a prospective partner who not only had excellent credentials in the field of healthcare but would also look into the best interest of people. As we handover the charge to Manipal Hospitals, we feel confident that AMRI and its people are in good hands and that the Manipal Group will continue to provide the best of healthcare services to the people of Eastern part of India and neighboring countries and also accelerate AMRI’s growth trajectory in the future,” Emami Group directors said on the acquisition.
Commenting on the acquisition, Manipal Education and Medical Group (MEMG) chairman Dr Ranjan Pai said that Manipal Hospitals would now serve patients in Bhubaneswar, its 17th city.
“We are delighted to welcome AMRI Hospitals into the Manipal family. With this addition, Manipal Hospitals would now serve patients in its 17th city in India in Bhubaneswar (Odisha). As a healthcare provider, AMRI has made a mark in the sector with its excellence in healthcare delivery and is a great asset that synergizes well with our core values of clinical excellence, patient centricity, and ethical practices and will help us provide enhanced exceptional quality care,” Pai said.
Manipal Hospitals will operate its facility at Bhubhaneswar with AMRI Hospitals. AMRI has operations in Dhakuria, Mukundapur & Salt Lake (all in Kolkata) and another at Bhubaneswar, Odisha comprising of more than 1,200 beds, over 800 doctors, and 5,000-plus healthcare professionals. Together, the entity will have 33 hospitals across 17 cities with 9,500 beds and a talent pool comprising more than 5,000 doctors and over 20,000 employees. Business Today