Manipal group acquires Vikram Hospital in Bengaluru, expands network.

Manipal Hospitals has a signed an agreement with private equity firm Multiples to buy a 100 per cent stake in Vikram Hospital, making it the group’s tenth hospital in Karnataka’s capital city.

This is Manipal’s second acquisition this year. The hospital chain acquired the Indian operations of Columbia Asia Hospitals for Rs. 2,100 crore in April, making it the second largest hospital chain in the country after Apollo Hospitals.

“There are two greenfield hospitals that are currently under construction and once they are complete in the next 24 months, our network of 12 hospitals with over 2,300 beds would be best placed to provide ease of access and comprehensive care to everyone across this fast growing city (Bengaluru),” said Ranjan Pai, chairman of Manipal Education and Medical Group (MEMG).

After bagging Columbia Asia Hospitals and Vikram Hospital, Manipal has a pan-India footprint of 27 hospitals across 14 cities with over 7,300 beds, and a pool of 4,000 doctors and an employee strength of over 11,000.

“We are pleased that we are handing over this marquee asset to an extremely worthy Manipal Hospital Group. With this larger canvas our doctors will have the ability to have a deeper impact on the healthcare needs of the city,” said Renuka Ramnath, founder, managing director and chief executive officer of Multiples, which took over Vikram Hospital in 2015.

BS