The Competition Commission of India (CCI) on Friday approved acquisition of Columbia Asia Hospitals by Manipal Health Enterprises.
The approval came after multispecialty healthcare provider Manipal Hospitals in November 2020 said it has entered into a definitive agreement to acquire Columbia Asia Hospitals in India.
The acquisition will be for Rs 2,100 crore, sources had earlier said.
Together, the combined entity will have a presence of 27 hospitals across 15 cities with over 7,300 beds and a pool of more than 4,000 doctors and over 10,000 employees, the healthcare providers had said in a statement.
The acquisition offers a geographical and cultural fit and provides Manipal Hospitals a larger national footprint, a combination notice filed with the regulator said.
The strong clinical expertise and breadth of services of Manipal Health Enterprises complemented by the strengths of Columbia Asia Hospitals in clinical and service quality, will ensure that the combined entity would improve access to healthcare in the country, the statement said.
The merger will also help address the growing demand and expectations for high-quality tertiary and quaternary healthcare in the country, it added.
In a tweet, the regulator said the "Commission approves acquisition of 100 per cent shareholding of the Columbia Asia Hospitals by Manipal Health Enterprises".
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