Manipal Hospitals buys Columbia Asia, becomes second-largest healthcare chain in India
The acquisition will be for Rs 2,100 crore, sources had earlier said.
Bengaluru: Healthcare provider Manipal Hospitals on Friday announced the completion of its acquisition of Columbia Asia Hospitals in India.
The acquisition will be for Rs 2,100 crore, sources had earlier said.
Manipal Hospitals has completed a 100 per cent stake acquisition in Columbia Asia Hospitals Pvt Ltd and the transfer of ownership has taken place post the completion of all regulatory approvals.
With this acquisition, Manipal Hospitals becomes India's second-largest multi-speciality hospital chain, the company said in a statement.
"We are pleased to have completed the regulatory processes that now allow these two outstanding healthcare delivery organisations to function as one," Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said.
The focus now is on integration that captures the best from both systems so as to offer a world-class experience to all our patients, he added.
Together, the combined entity now has 26 hospitals across 14 cities with over 7,000 beds, and a pool of more than 4,000 doctors and 10,000 plus employees, Manipal Hospitals said.
"I am extremely enthusiastic about the combination of Manipal and Columbia Asia as it will allow a greater number of patients to be served by the clinical and service excellence ingrained in both organisations, Columbia Pacific Management Chairman Dan Baty said.
In November 2020, Manipal Hospitals had said that it had entered into a definitive agreement to acquire Columbia Asia Hospitals in India.
