The Business Bytes
TBB BUREAU
BENGALURU/KOLKATA, SEPT 20, 2023
Manipal Hospitals, the second-largest hospital chain in India, on Wednesday announced its acquisition of 84 per cent stake in AMRI Hospitals Ltd. The acquisition fits into the growth strategy of Manipal Hospitals to have a larger footprint and expanded presence in Eastern India as the largest hospital chain in that region. The clinical expertise and infrastructure of AMRI Hospitals combined with synergies of its large network would enable Manipal Hospitals to effectively address the growing demand for high-quality tertiary and quaternary healthcare in Eastern India.
Commenting on the transaction, Manipal Education and Medical Group (MEMG) Chairman Dr. Ranjan Pai said, “This acquisition is in sync with our objective to further strengthen our presence and serve the patients in Eastern India. We are delighted to welcome AMRI Hospitals into the Manipal family. With this addition, Manipal Hospitals would now serve patients in its 17th city in India in Bhubaneswar.”
On this development, Emami Group Directors Aditya Agarwal and Manish Goenka said, “In an endeavour to focus on our core businesses, we have divested our majority stake in AMRI Hospitals, which is a significant step in Emami Group’s stated objective. We will however, continue as an investor in AMRI Hospitals with 15 per cent stake. The Government of West Bengal will also have 1 per cent stake in AMRI Hospitals.”
The acquisition of AMRI Hospitals offers a remarkable geographical fit for Manipal Hospitals. Treating nearly 5 lakh patients annually with the most advanced technology, AMRI is ranked as one of the largest healthcare provider network in Eastern India. The hospital chain has operations in Dhakuria, Mukundapur and Salt Lake (all in Kolkata) and another at Bhubaneswar, Odisha comprising of more than 1,200 beds, over 800 doctors, and 5,000-plus healthcare professionals. Together, the combined entity will have 33 hospitals across 17 cities with 9,500 beds, and a talent pool of over 5,000 doctors and 20,000 employees.
