Team siliconindia

• Manipal Hospitals seeks CCI approval to acquire Sahyadri Hospitals in a deal estimated at Rs 6,400 crore.
• The acquisition will add 11 hospitals and boost Manipal’s total bed count to around 12,000.
• The move strengthens Manipal’s presence in western India, aligning with its pan-India expansion strategy.

Manipal Hospitals has approached the Competition Commission of India (CCI) to secure approval for acquiring Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan Board, in a deal estimated to be worth between Rs 6,200 crore and Rs 6,400 crore.

As per the filing with the CCI, the proposed transaction involves Manipal Hospitals Pvt Ltd acquiring up to 100% stake in Sahyadri Hospitals Pvt Ltd in multiple tranches. While the deal size was not officially disclosed, industry sources peg it close to Rs 6,400 crore, making it one of the largest healthcare M&A deals in India in recent times.

The companies emphasized in the CCI notice that the acquisition would not adversely affect competition or alter the relevant market in any significant manner. "The proposed transaction does not have any impact on any relevant market in India, let alone any appreciable adverse effect on competition (AAEC)", the filing stated.

Last month, Manipal Hospitals announced it had entered into definitive agreements with Ontario Teachers’ for the acquisition. This strategic move is set to significantly expand Manipal’s footprint in western India, particularly in Maharashtra.

With the addition of Sahyadri’s 11 hospitals located across Pune, Nashik, Ahilya Nagar, and Karad, Manipal’s total hospital count will rise to 49, and its nationwide bed capacity will reach approximately 12,000 solidifying its position among India’s largest hospital networks.

“This acquisition is in line with our strategy to build a pan-India network. With strong support from our stakeholders like Temasek, we are excited to expand Manipal’s trusted brand of healthcare to more regions”, said Dilip Jose, MD and CEO of Manipal Health Enterprises.

Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), echoed the sentiment, adding that the expansion significantly strengthens Manipal’s presence in the western region.

Manipal Hospitals is backed by Singapore-based global investment firm Temasek, which holds a portfolio value of approximately USD 324 billion as of March 31, 2025.

Also Read: Manipal Hospitals partners with Google Cloud to improve patient service

Sahyadri Hospitals, one of Maharashtra’s largest healthcare chains, currently operates 11 hospitals with over 1,400 beds. Ontario Teachers’, which acquired a majority stake in the hospital group in 2022, is a global investor with net assets totaling USD 266.3 billion as of December 31, 2024.

The deal now awaits the nod from the fair trade regulator to proceed with execution.