Danish holding and investment company Novo Holdings has made an investment in Manipal Hospitals, an Indian private hospital chain. 

This marks Novo Holdings’ largest investment in the Asian market to date, though the exact size of the investment remains undisclosed. 

Novo Holdings, a controlling shareholder of Novo Nordisk and Novozymes, focuses on life science investments and manages a portfolio with a long-term return perspective. 

With key markets in India, South-East Asia, and China, where it also opened a Shanghai office last year, Novo Holdings is expanding its footprint in the region through strategic investments like the one in Manipal Hospitals. 

At the end of 2022, Novo Holdings had assets totalling €108bn ($115.86bn).  

Manipal Hospitals was set up in 1991 with its flagship hospital in Bangalore.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

At present, it has grown to become a private hospital network comprising 33 hospitals across the country, with a bed capacity exceeding 9,500 and a team of more than 5,000 doctors.  

Annually, Manipal Hospitals caters to around six million patients, offering comprehensive curative and preventive care to both local and international patients. 

The hospital chain is dedicated to developing an affordable healthcare framework that encompasses multispecialty and tertiary care.  

According to Novo Holdings, the demand for private hospital care in India has seen an upsurge, driven by a rising middle class, an increased demand for advanced medical facilities, and the expansion of health insurance coverage.  

With investment in Manipal Hospitals, the Danish company now intends to reinforce its commitment to deliver affordable healthcare. 

Novo Holdings Asia Investments partner Navjeewan Khosla said: “We are very pleased to announce the investment in Manipal Hospitals. It represents our commitment towards filling the gap between the enormous demand and underserved healthcare infrastructure in India.  

“By offering a vast range of high-end procedures and demonstrating a strong track record of delivering high-quality care at an affordable cost, a strong medical, technical and management team, Manipal is contributing to raising the bar for private hospitals in India.” 

In April 2023, Singaporean state-owned investor Temasek acquired a further 41% stake in Manipal for almost $2bn, increasing its total holding to 59% in the hospital chain. 

Earlier this week, Temasek divested up to 8% of its Manipal holding to investors, including Mubadala Investment Company, Novo Holdings, and the California Public Employees’ Retirement System (CalPERS). 

The latest investment aligns with Novo Holdings’s plans to expand its footprint in the Asian region and offer affordable healthcare.