With Medanta-Manipal and Fortis- Manipal deals ending in a fiasco, Manipal has come up with another manoeuvre to make a comeback by getting its hands on 100% stake in Columbia Asia Hospitals Private Limited of Columbia Pacific management Group. Manipal Health Enterprise Pvt. Limited has given its nod for acquiring Columbia Asia’s Indian assets for around ₹1,800 crore and an additional amount of ₹300 crore will be utilized for absorbing Columbia Asia’s debt making it a ₹2,100 crore deal.
Following some major mergers in the healthcare sector such as Radiant Life Care with Max Healthcare Ltd in 2020 and Malaysia’s IHH Healthcare with Fortis Healthcare in 2018, Manipal Health, which was instructed by Allegro Capital on the undertaking, and Columbia Asia guided by Morgan Stanley, combined together will augment into one of the leading healthcare providers of the country treating over 4 million patients per annum. After this acquisition, Manipal hospitals will turn out to be the second largest chain of Hospitals after Apollo hospitals founded by Prathap C. Reddy. The acquired hospitals will operate under the brand name of Columbia Asia for a year, which will be changed to Manipal Hospitals Pvt. Limited.
Columbia Asia Hospitals which rung up the curtains in India in 2005 in Hebbal, Bengaluru has 11 infirmaries across the country with a capacity of 1,300 beds. 1,200 clinicians along with 4,000 employees have been working in these hospitals. Its amalgamation with Manipal Hospitals will accredit Manipal health to set its foot in the eastern Indian market. There will be altogether 27 hospitals across 15 cities with a capacity of 7,300 beds under the supervision of 4,000 proficient doctors and around 10,000 employees.
“Columbia Asia is competent in terms of patient centricity, clinical expertise and ethical practices” said the chairman of Manipal Education and Medical Group (MEMG), Dr. Ranjan Pai. Dan Baty, Chairman of Columbia Pacific Management termed this merger as an exciting combination because the two companies share strong cultural alignment which will strengthen their resolve of putting the patient first and delivering top-notch healthcare and exceptional services.
