Manipal Hospitals Set to Acquire Sahyadri in INR 6,150 Cr Deal

Definitive documents between OTPP and Manipal Hospitals could be signed within the next few days, followed by an official announcement

Singapore investment major Temasek and Dr Ranjan Pai-led Manipal Hospitals are set to win the competitive race for Sahyadri Hospitals from Canadian pension fund Ontario Teachers' Pension Plan (OTPP). 

“Post submission of binding bids, south-focused and IPO-bound Manipal Hospitals has the highest offer amongst all suitors with an equity value of around ₹6,150 crore and discussions have moved faster with them,” sources said.

Definitive documents between OTPP and Manipal Hospitals could be signed within the next few days, followed by an official announcement, as reported by Moneycontrol.

Sahyadri Hospitals, a formidable 1,200-bed healthcare facility in Pune, is currently owned by the Ontario Teachers' Pension Plan Board (OTPP).

Backed by a substantial investment from Temasek, Manipal Hospitals comes with a history of successful acquisitions, having previously absorbed Vikram Hospitals and Columbia Asia's operations in India.

As reported earlier, the deal attracted attention from IHH, EQT, KKR and others. EQT, which has poured over $6 billion into India in the past 21 months, is eyeing a similar strategy in the healthcare sector that has previously seen success in IT services.

Meanwhile, IHH is focused on strengthening its foothold in India, with Group CEO Prem Kumar Nair expressing a clear intent for growth, hinting at potential acquisitions that could add thousands of beds to their portfolio.

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