Manipal Hospitals on Monday announced acquiring an 87 per cent stake in the Calcutta-based hospital chain Medica Synergie.
The Bengaluru-based hospital chain had earlier acquired a majority stake in AMRI Hospitals, which was owned by the Emami group.
“This acquisition is in line with Manipal Hospitals’ strategy of expanding its footprint and presence in eastern India as the leading hospital chain in the region. By leveraging the clinical expertise and infrastructure of Medica Synergie, along with the combined operations of its extensive network, Manipal Hospitals will be well positioned to meet the increasing demand for high-quality tertiary and quaternary healthcare services in eastern India,” Manipal said in a statement.
According to sources, the remaining 13 per cent of the stake in Medica is owned by “some of the promoters and doctors”.
Under the new owners, Medica will be rebranded as Manipal.
“With this acquisition, Manipal Hospitals builds on its strong presence in eastern India, enabling us to expand our reach and meet the healthcare needs of this under-served region. We will integrate Medica Synergie into our portfolio and rebrand it. Together, we are poised to deliver enhanced, exceptional quality healthcare to our patients across eastern India, including the cities of Calcutta, Siliguri, and Ranchi,” said Dilip Jose, MD and CEO of Manipal.
The addition of Medica increased the current bed count of Manipal Hospitals across India from over 9,500 to over 10,500, said an official.
In September 2023, Manipal Hospitals acquired an 84 per cent stake in the Emami Group’s AMRI Hospitals Ltd. The Emami Group now owns a 15 per cent stake in AMRI.
Temasek, a Singapore- based investment firm has 59 per cent stake in Manipal Hospitals. Sheares Healthcare, a wholly-owned subsidiary of Temasek, was the majority shareholder in Medica before Manipal’s acquisition.
Some of the other private hospital chains with a presence in Calcutta said they would be adding beds.
“We will be adding another 1,000 beds in the new hospital that is set to come up in New Town in the next few years,” said R. Venkatesh, group COO, Narayana Health, another Bangalore-based healthcare chain.
The total bed strength of the group in and around Calcutta would then go up to around 2,500 from the existing 1,500, said Venkatesh.
Apollo Hospitals is planning to set up at least two more hospitals, with 750 beds, in the next three years in Calcutta.
“In the next one year, we will have a 300-bed hospital,” said Krishnan Akhileswaran, group CFO, Apollo Hospitals Enterprises.
According to healthcare industry sources, some of the big chains are also in talks with a few standalone hospitals in Calcutta for acquisitions.
Healthcare experts said unless new beds are created, the cost of treatment would not come down in the city.
“Adding new beds will lead to rationalisation of cost of equipment and infrastructure. This in turn will bring down the treatment costs,” said the CEO of a hospital.
