Manipal Hospitals has acquired Bengaluru-based Vikram Hospital. This is the hospital chain’s second acquisition this year. Manipal Hospitals completed its acquisition of Columbia Asia Hospitals in April 2021.
For this deal, Manipal has entered into a definitive agreement with Multiples Private Equity Fund for a 100% acquisition of Vikram Hospital.
With this acquisition, Manipal has 10 hospitals in the city. Set up in 2009, Vikram Hospital is a 200 bedded high-end tertiary care facility located in the central business district and is best known for its clinical expertise in the fields of Cardiac and Neuro Sciences.
After acquiring Vikram Hospital, the group has 7,300 beds with 27 hospitals. It has a presence across 14 cities.
“We are delighted to welcome Vikram Hospital into our network. Manipal Hospitals has been the top-ranked healthcare provider in Bengaluru for over two decades and this addition is a reiteration of our commitment to meet the healthcare needs of the city and the region. There are two greenfield hospitals that are currently under construction and once they are complete in the next 24 months, our network of 12 hospitals with over 2,300 beds would be best placed to provide ease of access and comprehensive care to everyone across this fast-growing city,” Ranjan Pai, Chairman of Manipal Education and Medical Group said.
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