Manipal Hospitals to buy Sahyadri in 6,000 crore deal

NEW DELHI: Manipal Hospitals announced on Wednesday that it signed definitive agreements to acquire Sahyadri Hospitals from Ontario Teachers’ Pension Plan (Ontario Teachers’), a global investor. The acquisition will bring Ranjan-Pai backed Manipal’s total bed count to about 12,000, making it one of India’s largest hospital networks, says a company statement. Financial details of the deal were not disclosed, but the deal is believed to be around Rs 6,000 crore.The acquisition of Pune-based Sahyadri Hospitals will add 11 hospitals to Manipal’s network across Pune, Nashik, Ahilya Nagar and Karad, increasing Manipal’s total number of hospitals to 49. Through this acquisition, Manipal will expand its presence in western India, in line with its strategy to augment its pan-India footprint and offer more patients access to quality healthcare services.Ontario Teachers’, with net assets of $194 billion as of Dec 31, 2024, acquired a majority stake in Sahyadri in 2022. Since then, the chain has grown through strategic mergers and acquisitions.