National Investment and Infrastructure Fund Ltd. (NIIF) on Thursday announced an investment of ₹2,100 crore in Bengaluru-based Manipal Hospitals through its Strategic Opportunities Fund (SOF).
“Through this investment, we look forward to playing a role in serving the healthcare needs of India,” said Sujoy Bose, MD and CEO, NIIF.
“The strong governance, processes and track record of Manipal Hospitals resonate well with NIIF’s investment philosophy.’’
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Manipal Hospitals, which has 15 multi-speciality hospitals in the country, focuses on tertiary and quaternary care. The recent announcement of its acquisition of Columbia Asia Hospitals is expected to augment its expansion activities, as per a statement.
“Manipal Hospitals continues on its path to reach many more geographies and under-served communities to provide both access and superlative clinical outcomes,” said Ranjan Pai, chairman, Manipal Education and Medical Group
“Investing in the healthcare sector requires a long-term outlook as well as sensitivity to social responsibilities, and I am glad that in NIIF we have a partner who shares these perspectives,’’ added Dr. Pai.
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This investment marks SOF’s maiden foray into India’s healthcare space. SOF focuses on sectors that are closely linked to the country’s growth and benefit from demographics, consumption, investment, and policy trends. NIIF currently manages over $4.5 billion of equity capital commitments across three funds — Master Fund, Fund of Funds and Strategic Opportunities Fund.