Manipal Hospitals acquires 100% of the capital of Vikram Hospital, Health News, ET HealthWorld
The announcement follows its acquisition of the Indian operations of Columbia Asia Hospitals in April 2021.
Established in 2009, Vikram Hospital is an upscale 200-bed tertiary care facility located in the central business district and is best known for its clinical expertise in the areas of cardiac and neural sciences.
Commenting on the agreement, Dr Ranjan Pai, President of the Manipal Education and Medical Group (MEMG), said: “We are delighted to welcome Vikram Hospital to our network. Manipal Hospitals has been the top ranked healthcare provider in Bangalore for over two decades and this addition is a reiteration of our commitment to meeting the health needs of the city and region. There are two new hospitals that are currently under construction and once they are completed in the next 24 months, our network of 12 hospitals with over 2,300 beds would be in the best position to provide easy access and comprehensive care to all in this growing city. “
With this latest addition, Manipal Hospitals now has 27 hospitals in 14 cities, over 7,300 beds and a talented pool of 4,000 physicians and over 11,000 employees. The hospital group is also looking to expand its presence in eastern India and further strengthen its presence in existing geographies, the statement said.
Allegro Capital acted as financial advisers while PwC acted as financial and tax due diligence advisers and Trilegal as legal advisers to Manipal Hospitals on this transaction.