Manipal Hospitals to Acquire Majority Stake in Medica Synergie

• ByStartupStory     |    May 1, 2024

Manipal Hospitals, one of India’s leading healthcare providers, has announced a significant move in its expansion strategy with the signing of a binding agreement to acquire an 87% stake in Medica Synergie, a prominent hospital chain based in Kolkata. The transaction, valued at approximately ₹1,400 crore, is expected to be finalized after customary processes are completed, as per a statement released by Manipal Hospitals.

“This acquisition is in line with Manipal Hospitals’ strategy of expanding its footprint and presence in eastern India as the leading hospital chain in the region,” stated a representative from Manipal Hospitals.

Upon integration, Medica Synergie will be rebranded under the Manipal Hospitals banner. Dilip Jose, MD and CEO of Manipal Hospitals, expressed enthusiasm about the acquisition, emphasizing the company’s commitment to enhancing healthcare services in the region. “We are delighted to welcome Medica Synergie with its highly talented team of professionals into the Manipal family. With this acquisition, Manipal Hospitals builds on its strong presence in eastern India, enabling us to expand our reach and meet the healthcare needs of this under-served region,” Jose remarked.

The acquisition of Medica Synergie will substantially bolster Manipal Hospitals’ operations, allowing them to serve approximately 7 million patients annually across 37 hospitals in 19 cities across 14 states. This expansion increases the hospital bed count from over 9,500 to over 10,500 beds. Manipal Hospitals currently boasts a dedicated team of over 5,600 doctors and an employee strength exceeding 18,600, reflecting its commitment to clinical excellence and patient-centric care.

This move follows Manipal Hospitals’ earlier acquisition of an 84% stake in Emami Group’s AMRI Hospitals in September 2023. By leveraging the clinical expertise and infrastructure of Medica Synergie, Manipal Hospitals aims to meet the growing demand for high-quality tertiary and quaternary healthcare services in eastern India, including cities like Kolkata, Siliguri, and Ranchi.

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