Manipal Hospitals to Acquire Sahyadri Hospitals for Rs 6,400 Cr

New Delhi, Aug 3 (PTI) Healthcare major Manipal Hospitals has sought approval from the fair trade regulator CCI to acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan Board in a deal pegged at around Rs 6,400 crore.

The companies did not share the deal size, but industry sources estimate the transaction to be in the range of Rs 6,200-6,400 crore.

"The proposed transaction envisages the acquisition of up to 100 per cent shareholding by the acquirer (Manipal Hospitals Pvt Ltd) in the target (Sahyadri Hospitals Pvt Ltd) in multiple tranches," according to a notice filed with the Competition Commission of India (CCI).

Manipal Hospitals and Sahyadri Hospitals said the "proposed transaction does not have any impact on any relevant market in India, let alone any appreciable adverse effect on competition (AAEC), and therefore, the definition of the relevant product and geographic market may ultimately be left open. In any event, in order to aid and assist the CCI in its assessment".

Last month, Manipal Hospitals announced that it had inked definitive agreements with Ontario Teachers' for the acquisition.

The Bengaluru-based healthcare major said the acquisition of Sahyadri Hospitals will bring Manipal's total bed count to about 12,000, making it one of India's largest hospital networks.

The acquisition will add 11 hospitals to Manipal's network across Pune, Nashik, Ahilya Nagar and Karad, increasing its total number of hospitals to 49, it added.

Through this acquisition, Manipal said it will expand its presence in western India, in line with its strategy to augment its pan-India footprint.

"With the strong partnership of our valued stakeholders like Temasek and our other investors, we are excited to grow our operations and bring Manipal's trusted brand of quality healthcare to many more patients," Manipal Health Enterprises MD and CEO Dilip Jose said.

Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said the acquisition will strengthen Manipal's presence in western India.

"With this expansion, Manipal Hospitals will have a network of approximately 12,000 beds nationwide, solidifying our position as one of the largest hospital chains in India," he added.

Manipal Hospitals is backed by Temasek, a global investment company, headquartered in Singapore, with a net portfolio value of around USD 324 billion as of March 31, 2025.

A global investor with net assets of USD 266.3 billion as of December 31, 2024, Ontario Teachers' Pension Plan Board (Ontario Teachers') acquired a majority stake in Sahyadri in 2022.

The Pune-based hospital chain is now one of Maharashtra's largest, with 11 hospitals and over 1,400 beds.