Manipal Hospitals, a multi-speciality healthcare provider, on Monday entered into a definitive agreement to acquire 100% stake in Columbia Asia Hospitals Private Limited (Columbia Asia).
The deal is valued at ₹2,100 crore, a person with knowledge of the transaction, who declined to be identified, said.
On completion, Manipal Hospitals would become India’s largest healthcare chain after Apollo Hospitals.
“Columbia Asia makes a compelling strategic fit to our core values of clinical excellence, patient centricity and ethical practices, and will help us advance our commitment to provide outstanding patient care,” said Ranjan Pai, Chairman, Manipal Education and Medical Group.
Columbia Asia started operations in India in 2005 in Hebbal, Bengaluru, and presently operates 11 hospitals across the country including in Mysuru, Kolkata, Gurugram, Ghaziabad, Patiala and Pune. The network comprises more than 1,300 beds, 1,200 clinicians and 4,000 employees.
“This combination of Columbia Asia and Manipal Hospitals is very exciting because of the strong cultural alignment between the two companies – and the opportunity it provides for continued growth,” Dan Baty, Chairman, Columbia Pacific Management, said.
The combined entity will have 27 hospitals across 15 cities with more than 7,200 beds and 4,000 doctors.
