Manipal Hospitals Buys Hospital Property Worth Rs 415 Crore in Mumbai's Andheri

Mumbai: Manipal Hospitals, backed by Singapore's global investment company Temasek Holdings, has purchased a hospital property worth Rs 415 crore in Mumbai's Andheri.

As per the documents, accessed by Propstack, the Deed of Transfer was registered between the seller Khubchandani Properties and Investment Private Limited and Manipal Health Enterprises Private Limited on October 7, HT has reported.

The new hospital property, purchased by Manipal Hospitals, is spread across an area of 10,590 sq m. The hospital has been developed on a land parcel spread across an area of almost 2.61 acres and encompasses an area of 20,851.65 sq m (built-up).

Also Read: Manipal Hospitals opens 250-bed Super Specialty Hospital in Pune

As per the latest media report by Hindustan Times, the Block A hospital structure comes with a basement having 80 enclosed parking spaces and 204 mechanical stack parking spaces. It also has a lower ground, a ground floor, and three upper floors, the document showed.

For the property transaction, Manipal Hospitals had to pay around Rs 27.30 Crores as stamp duty. According to the documents, the transaction includes both the hospital building, as well as the land where it stands, Money Control has reported.

Singapore's Temasek Holdings bought a majority stake in the Manipal Hospitals last year for $2 billion. In September 2023, Manipal Hospitals acquired a 84 per cent stake in Emami Group's AMRI Hospitals Ltd. According to media reports, currently, the Emami Group owns a 15 per cent stake in AMRI.

Medical Dialogues had previously reported that earlier this year, Manipal Hospitals, the second largest hospital chain in India, announced the successful brand integration of three AMRI Hospitals units in Dhakuria, Mukundapur, and Salt Lake in Kolkata, which were acquired in September 2023.

Manipal Hospitals also invested in the hospital chain Medica for around Rs 1,400 crore. Back in 2021, it acquired hospital chain Columbia Asia having a portfolio of 11 healthcare facilities.

Back in 2022 Manipal Hospitals had announced the commencement of its new 250-bed hospital. Earlier this year in February, the Managing Director and CEO of Manipal Hospitals, Dilip Jose informed The Week that the Company had already two hospitals in Pune, including one in Baner. He had said, "Mumbai is also of keen interest to us, but building a greenfield hospital there is very difficult."

Also Read: Manipal Hospitals expands footprints in East India, rebrands AMRI units