M&A

M&A

Manipal Hospitals acquires 87% stake in Medica Synergie for Rs.1,400-Cr

Business Standard  

Bangalore-based Manipal Hospitals is to acquire an 87% stake in Kolkata-based hospital chain Medica Synergie for about INR 1,400 crore. The addition of Medica will push the current hospital bed count of Manipal Hospitals from over 9,500 to more than 10,500, making it India’s largest hospital chain.With the acquisition of Medica Synergie and AMRI Hospitals, the network will have a pan-Indian footprint of 37 hospitals across 19 cities.Allegro Capital Advisors, Khaitan and Co. and KPMG were the advisors to Manipal Health Enterprise in this transaction.