Manipal Hospitals, a Bengaluru-based healthcare provider, on Monday said it signed a binding agreement to acquire an 87% stake in Kolkata-based hospital chain Medica Synergie. It would invest around ₹1,400 crores to acquire the controlling stake, said sources.
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A media release from Manipal Hospitals said this acquisition was in line with Manipal Hospitals’ strategy of expanding its footprint and presence in eastern India as the leading hospital chain in the region. By leveraging the clinical expertise and infrastructure of Medica Synergie, along with the combined operations of its extensive network, Manipal Hospitals will be well-positioned to meet the increasing demand for tertiary and quaternary healthcare services in eastern India, especially in Kolkata, Siliguri, and Ranchi, it said.
Manipal hospital | Photo Credit: SUDHAKARA JAIN
Dilip Jose, MD & CEO said, “With this acquisition, Manipal Hospitals builds on its strong presence in eastern India, enabling us to expand our reach and meet the healthcare needs of this under-served region. We will integrate Medica Synergie into our portfolio and rebrand it.“
With the acquisition of Medica, Manipal Hospitals treats 7 million patients annually across 37 hospitals spanning 19 cities in 14 states. The addition of Medica has pushed the current hospital bed count from over 9,500 to over 10,500. With a talented pool of 5,600+ doctors, along with an employee strength exceeding 18,600,, as per the communique.