Ontario Teachers’ Sells Stake in Sahyadri Hospitals to Manipal Health Group

Since acquiring Sahyadri in 2022, Ontario Teachers' has overseen its growth into a leading Maharashtra healthcare provider with 11 hospitals and over 1,400 beds.

Ontario Teachers’ Pension Plan Board has announced its decision to sell its majority stake in Sahyadri Hospitals Group to Manipal Hospitals.

The exact financial details of the deal have not been made public yet. As per reports the deal is valued at INR 6,400 Cr.

Since acquiring Sahyadri in 2022, Ontario Teachers' has overseen its growth into a leading Maharashtra healthcare provider with 11 hospitals and over 1,400 beds.

Sahyadri is now one of Maharashtra’s largest hospital chains, with 11 hospitals and over 1,400 beds, delivering effective healthcare to millions across the region.

The investment was made by Ontario Teachers’ Private Capital team, in partnership with management and led by Abrarali Dalal, Managing Director and CEO of Sahyadri Hospitals.

“When Ontario Teachers’ invested, our intention was to create a formidable regional player with the infrastructure, medical equipment and clinical excellence to enable high-quality medical care in cities across the region. Backed by strong shareholder support, we’ve been able to invest over INR 900 Cr since 2022, leveraging our combined expertise to drive the transformation of Sahyadri. We’ve enjoyed a great partnership with the Ontario Teachers’ team and are optimistic about the platform’s continued positive impact on healthcare delivery,” added the CEO

The sale of Sahyadri to Manipal Hospitals is currently pending regulatory approvals.

IPO-bound Manipal was the leader in the race for Sahyadri Hospitals with a INR 6,838 Cr bid, which was trailed closely by Blackstone.

IHH Healthcare-backed Fortis Healthcare and EQT Partners also submitted bids on June 23, which was the last day to submit binding financial bids.

Ontario Teachers’ was supported in this transaction by a team of advisors, including Jefferies and Alvarez & Marsal for financial guidance, alongside legal counsel from Latham & Watkins and Trilegal.

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