March 04, 2024 04:29 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Sikh musician shot dead in suspected hate crime in US | Karnataka CM Siddaramaiah expresses confidence in arresting Rameshwaram Cafe bomber | BJP must win all 42 Lok Sabha seats in Bengal: PM Modi | Gautam Gambhir wishes to quit politics, requests JP Nadda to relieve him of political duties | Delhi court orders Bloomberg to take down 'defamatory' article against Zee
Manipal Hospitals completes acquisition of majority stake in Kolkata's AMRI Hospitals AMRI Hospitals
Image Courtesy: Pixabay

Manipal Hospitals completes acquisition of majority stake in Kolkata's AMRI Hospitals

India Blooms New Service | @indiablooms | 21 Sep 2023, 02:56 am

Kolkata: Manipal Hospitals Wednesday announced the acquisition of an 84 percent stake in AMRI Hospitals Ltd, a subsidiary of the Emami Group, for an undisclosed amount, media reported.

Emami Group, based in Kolkata, will maintain a 15 percent stake in AMRI Hospitals and remain an investor in the venture.

This strategic move is poised to bolster Manipal Hospitals' presence in the eastern region of India.

With this acquisition, the combined entity will include 33 hospitals spanning 17 cities.

Leveraging the clinical proficiency and infrastructure of AMRI Hospitals, coupled with the synergies of its expansive network, Manipal Hospitals is well-positioned to meet the escalating demand for top-notch tertiary and quaternary healthcare services in eastern India, it said

"This acquisition is in sync with our objective to further strengthen our presence and serve the patients in eastern India – an underserved area when it comes to healthcare," Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said. Emami Group Directors Aditya Agarwal and Manish Goenka said the group has divested its majority stake in AMRI Hospitals, but will continue as an investor with 15 per cent stake.

"The government of West Bengal will also have (around) 1 per cent stake in AMRI Hospitals," they said. AMRI is among the major healthcare providers network in eastern India with operations in Dhakuria, Mukundapur and Salt Lake (in Kolkata) and another in Bhubaneswar, with over 1,200 beds and more than 800 doctors, and 5,000-plus healthcare professionals.

After the acquisition, the combined entity will have 33 hospitals across 17 cities with 9,500 beds, and over 5,000 doctors and 20,000 employees, the statement said.

Manipal Health Enterprise was advised by Allegro Capital Advisors for the transaction.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.