Industry

Manipal to sell Malaysian unit to Ramsay Sime Darby

Manipal Health Enterprises on Friday said it will divest its Malaysian business to Ramsay Sime Darby Healthcare. The company, however, did not disclose the value of the deal.

Set up in 2016, the 220-bed Manipal Hospitals, Klang, is a high-end tertiary care hospital accredited by the Malaysian Society for Quality in Health.

Trauma centre

The facility offers more than 30 speciality services, including Klang’s only trauma centre, according to Dilip Jose, managing director and chief executive officer, Manipal Hospitals.

The divestment comes at a time when Manipal Hospitals is gearing up for a smooth integration of Columbia Asia Hospitals India, the acquisition of which is nearing completion.

The Bengaluru-headquartered Manipal Hospitals is among the top five healthcare providers in the country serving more than three million patients annually, offering affordable, quality healthcare in multi-specialty and tertiary care along with home care.

With 10 tertiary/quaternary care facilities and four secondary care hospitals, Manipal Hospitals operates and manages about 6,000 beds across 14 hospitals.

With the acquisition of Columbia Asia Hospitals, the integrated organisation will have an enhanced pan-India footprint of 26 hospitals across 15 cities and more than 7,300 beds, a talent pool of over 4,000 doctors and over 10,000 employees.

Equity funding

As part of this acquisition, Manipal had announced a ₹2,100-crore equity funding from the National Investment and Infrastructure Fund (NIIF) in April.

Ranjan Pai, chairman of Manipal Education and Medical Group, said this investment would help it reach many more geographies and underserved communities with ‘superlative clinical outcomes’ faster.

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Printable version | May 6, 2021 5:26:16 AM | https://www.thehindu.com/business/Industry/manipal-to-sell-malaysian-unit-to-ramsay-sime-darby/article34285060.ece

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