Temasek, owned by the Government of Singapore, acquired an additional 41% interest in India-based Manipal Health through its portfolio company Sheares Healthcare Group, reported The Indian Express.

A source familiar with the matter said that Temasek paid nearly $2bn to acquire the additional stake., reported Reuters.

After the acquisition, Temasek now holds 59% stake in the hospital, up from 18% prior to the acquisition..

The company purchased the interest in Manipal from promoters as well as other investors such as National Infrastructure Investment Fund (NIIF) and TPG Capital Management.

Following the transaction, the promoter Ranjan Pai family’s interest will drop to 30%. TPG Capital has sold 11% share in the hospital network, or half of its whole 22% stake, while NIIF has completely quit the market by selling its stake of 8%.

Manipal plans to increase its footprint in the country with acquisitions.

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company purchased the Indian assets of Columbia Asia Hospitals in a deal valued at Rs21bn ($256m) in 2020 and Bengaluru-based Vikram Hospitals from Multiple Private Equity for nearly Rs3.5bn ($42.7m) in 2021.

Manipal bought Advanced Medical Research Institute Hospitals in Kolkata for Rs24bn ($293m) recently.

The company is also in discussions with private equity investor True North to buy around 70% stake in KIMS Health Management in Kerala, India.

In January this year, FUJIFILM India and Manipal Hospitals collaborated for the former’s digital technology to store sensitive medical documents and images.