Columbia Asia to wrap up Indian Hospital Operations for Rs 1776 crore, TPG-backed Manipal shows interest: Report
New Delhi: Columbia Asia, one of the reputed international chain of hospitals is likely to exit from healthcare business in India as the chain is planning to sell it Indian hospital operations for about Rs 1776 crore (USD 250-300 million). As per a recent media report in ET, Columbia is in preliminary talks with strategic and financial investors, including Manipal Health Enterprises, Bain Capital and Temasek Holdings for the same. The transaction will probably be wrapped up by late 2019 or early 2020.
Confirmation to this effect has been given by Nate McLemore, Managing Director, Columbia Asia to ET in a written response, that stated that the hospital chain is in the first phase of the process with a lot of active interest from both strategic and financial investors.
The Columbia Asia hospital system, headquartered in Kuala Lumpur, was created two decades ago with an innovative business model focused on modern, efficient and affordable multispecialty hospitals located close to where patients live and work.
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