The new entity will have 27 hospitals across 15 cities with more than 7,300 beds and a strength of more than 4,000 doctors
Manipal Hospitals has announced that it will acquire 100% stake in Columbia Asia Hospitals Private Limited. The transfer of ownership to Manipal Hospitals will be complete after regulatory approvals.
Columbia Asia Hospitals commenced operations in India in 2005 in Hebbal, Bengaluru and presently operates 11 hospitals across the country in Bengaluru, Mysore, Kolkata, Gurugram, Ghaziabad, Patiala and Pune. The network comprises over 1,300 beds, 1,200 clinicians and 4,000 employees.
In a release, Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), said, “We are very pleased to welcome Columbia Asia Hospitals to the Manipal family and proudly acknowledge their outstanding track record of healthcare delivery of a very high standard over the years.”
This is the start of an exceptional journey for us and together with Columbia Asia, we are now bigger, stronger and uniquely positioned to meet the growing expectations of the communities we serve across the country.”
This acquisition of Columbia Asia further promotes Manipal Hospitals’ excellence in delivery of healthcare services with an enhanced pan-India footprint. The advisors for Manipal Health Enterprise Pvt. Ltd. were Allegro Capital Pvt. Ltd. and Columbia Pacific was advised by Morgan Stanley.
Dan Baty, Chairman of Columbia Pacific Management, said, “From day one, we focused on building a culture of putting the patient first to deliver the highest quality healthcare with integrity and exceptional service. This combination of Columbia Asia and Manipal Hospitals is very exciting because of the strong cultural alignment between the two companies – and the opportunity it provides for continued growth.”
The company will have staff of over 10,000 and will treat over 4 million patients annually. It would rank amongst the second largest healthcare provider networks in the country.