Manipal acquires 84% stake in Emami Group firm AMRI Hospitals for Rs 2,300 crore

Manipal Hospitals, the second-largest hospital chain in India, announced on Wednesday its acquisition of an 84 per cent stake in AMRI Hospitals Ltd taking its bed capacity across the country to 9500, a strong second-largest national healthcare provider in the country.

Singapore government's investment arm Temasek Holdings which owns 59 per cent of Manipal Hospitals has paid Rs 2300 crore to Emami Group promoters including debt, sources close to the development told PTI. The enterprise valuation was Rs 2400 crore and the books of AMRI had a debt of Rs 1600 crore, sources added.

The Manipal Hospitals entered the eastern market with the acquisition of Columbia Asia Hospitals in 2021. The acquisition provides Manipal Hospitals with a larger footprint and an expanded presence in Eastern India.

The Emami Group will retain a 15 per cent stake in the hospital chain as an investor, while the West Bengal government will continue to maintain a one per cent stake, a joint statement said.