Manipal not for inorganic growth

Manipal not for inorganic growth

Manipal Health Enterprises, which owns the multispeciality hospital chain Manipal Hospitals, on Thursday made it clear that there is no plan to go for inorganic growth and will focus on its existing business.

In an interaction with DH, Manipal Health Enterprises Chairman Dr Sudarshan Ballal said that there is no ambition to right now to join hands with other healthcare providers to expand the company’s footprint. “We are going ahead with our current business and have no plan of mergers. We do not have any plans to amalgamate with Fortis Healthcare,” said Dr Ballal.

Dr Ballal said the company is now focusing on its expansion plans and will use the tech prowess in an optimum way. “We have tied up with IBM Watson, an analytic engine for the oncology department. This service is only provided through Manipal Hospitals and there is no charge for it. It is also provided along with other hospitals,” he said.

He said the company is also scouting opportunities to strike technological partnership with a few countries. “We are discussing internally for technology partnership with various companies and its deployment later. These technologies will help us deliver healthcare services in a better way,” he said.

According to reports, private equity firm TPG Capital is attempting to strike a deal to consolidate Fortis Healthcare and Manipal Health Enterprises, making it the biggest merger and acquisition deal in the country.

TPG Capital had picked up 24.75% stake in the company in 2015 for a total valuation of Rs 3,636 crore. 

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