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Mubadala, Novo Holdings and CalPERS acquire minority stakes in Manipal Health Enterprises
Photo Courtesy: Pixabay

Mubadala, Novo Holdings and CalPERS acquire minority stakes in Manipal Health Enterprises

| @indiablooms | 08 Feb 2024, 12:31 am

Bangalore/Kolkata: Mubadala Investment Company (Mubadala), Novo Holdings and California Public Employees’ Retirement System (CalPERS) have acquired a minority stakes in Manipal Health Enterprises from Singapore-headquartered investment company Temasek.

Following the closing of the transaction, Temasek will continue to hold a majority stake in Manipal Health Enterprises.

Manipal Health Enterprises operated Manipal Hospitals, headquartered in Bengaluru, Karnataka, has a pan-India presence.

The hospital chain currently serves around 6 million patients a year through more than 30 hospitals across the country.

Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds.

“Manipal is one of India’s leading healthcare networks, distinguishing itself through its commitment to clinical excellence, its strong patient-centric approach, and its impeccable standards of corporate governance,” said Camilla Macapili Languille, Head of Life Sciences at Mubadala. “Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal’s growth journey in the years ahead.”

Dr. Amit Kakar, Managing Partner and Head of Novo Holdings Asia Investments, said “The demand for affordable and accessible private healthcare services in India is increasing rapidly, and Manipal stands at the forefront to address patient needs through its consistent growth and ability to provide high -quality patient services at affordable prices.

“It has a history of several successful mergers and acquisitions, which is enabling patient care closer to home. Together with a highly capable executive team and like-minded investor base, I am excited for Novo Holdings to be part of Manipal’s next phase on its remarkable journey.”

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