Private Equity Liquidity Events
Manipal buys Sahyadri Hospitals for Rs.6,400-Cr from OTPP
Source Economic Times (opens in a new tab)Investor Announcement (opens in a new tab)
Manipal Health Enterprises has acquired Sahyadri Hospitals from Canada’s Ontario Teachers Pension Plan (OTPP) for INR 6,400 crore (USD 750 million). The acquisition will strengthen Mainpal's presence in Western India, enabling it to extend world class healthcare to more patients.Sahyadri Hospitals operates 11 facilities across Pune, Nashik, Ahilya Nagar and Karad, comprising 1,300 beds, 2,500 clinicians and 3,500 support staff. Jefferies, Alvarez & Marsal, EY and Trilegal were advisers to OTPP. Barclays and Allegro Capital, Deloitte and Cyril Amarchand Mangaldas advised Manipal.
In Aug 2022, OTPP had invested over $300-M to acquire a majority stake in Sahyadri Hospitals.For FY24, Sahyadri Hospitals had reported about INR 814 Cr in Operating Income and about INR 87 Cr in PAT .