Manipal Hospitals

Manipal Health Enterprises,[4] commonly known as Manipal Hospitals, is a chain of multi-specialty hospitals in India. The hospitals trace their origins to the Kasturba Medical College, founded by T. M. A. Pai in 1953.[5] Manipal Hospitals is the second largest healthcare provider in India,[6] with a network of 28 hospitals.[1] Manipal Hospitals is part of the Manipal Education and Medical Group.[7]

Manipal Hospitals
TypePrivate
IndustryHealthcare
Founded1953
FounderT. M. A. Pai
HeadquartersBangalore, Karnataka, India
Number of locations
28
Key people
RevenueIncrease ₹4,010 crore (US$500 million) (FY22)[2]
Increase ₹977 crore (US$120 million) (FY22)[2]
Owner
Websitewww.manipalhospitals.com

History

In 1953, T. M. A. Pai founded the Kasturba Medical College in coastal Karnataka. The college operated as a public private partnership by using the government hospitals in Mangalore. Dr. Pai was an Indian doctor, educationist and philanthropist and was awarded the Padma Shri by the Government of India in 1972.[8]

The first branch of Manipal Hospitals was started in 1991 in Bangalore. The branch is a 600-bed quaternary care facility and houses over 60 specialties. In 1997, Manipal Hospitals, Mangalore was established, this 251-bed tertiary care hospital is named KMC Hospital, a teaching hospital of the Kasturba Medical College, Mangalore.[9]

In April 2021, Manipal Hospitals announced the sale of its only hospital outside India, Manipal Hospital Klang, Malaysia, to Ramsay Sime Darby Health Care for a reported ₹700 crore (US$94.47 million).[10]

In 2021, Manipal Hospitals completed the acquisition of Columbia Asia's 11 hospitals in India for ₹2,100 crore.[11][12] All Columbia Asia hospitals were subsequently rebranded as Manipal Hospitals.[13] In 2021, Manipal Hospitals acquired Vikram Hospital in Bangalore for ₹350 crore.[14]

In 2022, Manipal Hospitals group company Manipal HealthMap acquired a majority stake in diagnostics company Medcis PathLabs.[15]

In 2023, Temasek Holdings-backed Sheares Healthcare India acquired a 41% stake in Manipal Hospitals for about ₹16,000 crore (US$2.0 billion), to increase its shareholding to 59% and become the controlling stakeholder in the hospital chain. The acquisition valued the hospital chain at around ₹40,000 crore (US$5.0 billion).[16]

See also

References
  1. Nair, Geeta (16 August 2022). "Manipal Hospitals expands footprint with new facility in Pune". Financial Express. Retrieved 26 November 2022.
  2. "India Ratings Revises Manipal Health Enterprises' Outlook to Positive; Affirms 'IND AA-'; Rates Proposed NCDs". India Ratings and Research. Retrieved 3 February 2023.
  3. "Confirmed: Singapore's Temasek to pick up 41% stake in Manipal Hospitals". Moneycontrol. Retrieved 10 April 2023.
  4. Das, Sohini (13 October 2022). "Manipal Health may launch IPO after deal to buy AMRI Hospitals". Business Standard. Retrieved 13 November 2022.
  5. "Forbes India - How Ranjan Pai Is Striving To Make Manipal Hospitals India's Biggest Health Care Player". Forbes India. Retrieved 29 May 2022.
  6. "Manipal takes over Columbia Asia, emerges second largest healthcare chain". The Economic Times.
  7. Vinayak, A. J. (18 July 2021). "Manipal Hospitals: Big buys, big league". The Hindu Business Line. Retrieved 13 November 2022.
  8. "The Education Barons Of Manipal". Businessworld. Retrieved 14 November 2022.
  9. "Hospital | Kasturba Medical College, Mangalore - Manipal Academy of Higher Education". manipal.edu.
  10. "Manipal Health sells its Malaysian hospital to Ramsay Sime Darby Healthcare". The Economic Times. 10 April 2021. Retrieved 3 February 2023.
  11. "Manipal Hospitals completes acquisition of Columbia Asia". The Hindu. 30 April 2021. ISSN 0971-751X. Retrieved 29 October 2021.
  12. "Manipal Hospitals set to acquire Columbia Asia Hospitals for ₹2,100 cr". The Hindu. 2 November 2020. Retrieved 14 November 2022.
  13. "Columbia Asia rebranded as Manipal Hospitals". The Times of India. 19 November 2021. Retrieved 3 February 2023.
  14. "Manipal Hospitals acquires Vikram Hospital for ₹350 crore". The Hindu. 3 June 2021.
  15. "Manipal Hospitals group acquires Hyderabad-based Medcis PathLabs". Moneycontrol. Retrieved 13 November 2022.
  16. "Singapore's Temasek buys majority stake in Manipal Hospitals for $2 billion". Economic Times. 8 April 2023. Retrieved 8 April 2023.
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