The funding follows the Bengaluru-headquartered Manipal Hospitals acquiring Columbia Asia Hospitals for Rs 2100 crore in November.

Manipal Hospital on Old Airport RoadManipal Hospitals Website
Money Business Friday, April 02, 2021 - 13:56

National Investment and Infrastructure Fund Limited (NIIFL) on Thursday announced an investment of Rs 2,100 crore in Bengaluru -headquartered Manipal Hospitals, through NIIF Strategic Opportunities Fund (SOF), its direct private equity fund. This investment marks SOF's first investment in the Indian healthcare sector and will support Manipal Hospitals' journey of growth to become one of India's largest hospital chains, a joint statement said. Manipal Hospitals has a presence across India with 15 hospitals and a key focus on tertiary and quaternary care, it further said.

For the investment, NIIFL will get a minority stake in Manipal Hospitals as Chairman of Manipal Education and Medical Group Ranjan Pai is selling a small percentage of his stake in the company, a spokesperson of the hospital chain told PTI.

Managing Director and Chief Executive Officer of NIIFL, Sujoy Bose, said, "It is exciting to partner with a highly capable management team that has created one of the most efficient healthcare delivery platforms in the country."

Chairman of Manipal Education and Medical Group, Ranjan Pai, said, "Investing in the healthcare sector requires a long-term outlook as well as a sensitivity to social responsibilities, and I am glad that in NIIFL we have a partner who shares these perspectives."

"The recent announcement of their acquisition of Columbia Asia Hospitals, a leading chain of hospitals, will augment their growth aspirations to become a healthcare provider of choice with high-quality multi-specialty offerings and a country-wide presence," the statement said.

The deal comes close on the heels of billionaire entrepreneur Ranjan Pai-led Manipal Hospitals acquiring Columbia Asia Hospitals in India for ₹2,100 crore last November, making it the country’s second-largest hospital chain after Chennai-based Apollo Hospitals.

Read: Manipal Hospitals to acquire 100% stake in Columbia Asia Hospitals in India

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