PE Fund Investments
Temasek buys addl 41% stake in Manipal Hospitals; TPG & NIIF exit
Singapore government-owned fund Temasek Holdings has acquired 59% in Bengaluru-headquartered hospital chain Manipal Health Enterprises. Temasek-owned Sheares Health, which held 18% stake in Manipal, has acquired an additional 41% stake from the promoters and existing investors, in a deal that valued the hospital chain at INR 40,000 crore (USD 5 billion). TPG Capital, an existing private equity investor, has sold 11% from its 22% stake while another investor National Infrastructure Investment Fund (NIIF) has fully exited by selling its 8% stake in the hospital chain. Started in 1953, Manipal Health is a multi-speciality healthcare provider with 29 hospitals and 8,300 beds, across 16 cities. Post the latest transaction, the stake held by Manipal Health promoter Ranjan Pai and family will be reduced to 30%.
From the Venture Intelligence PE-VC Deal Database: Between Jan-2015 and Mar-2021, Manipal Health had attracted over USD 770 M from TPG, Temasek, Morgan Stanley and NIIF. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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