Manipal Hospitals Acquires 84% Stake in AMRI Hospitals
Written by Susi, Arushi Sharma
In a significant development for the Indian healthcare landscape, Manipal Hospitals has acquired an 84% stake in AMRI Hospitals. This strategic merger holds the promise of enhancing the quality and accessibility of medical services across the country.
Manipal Hospitals has announced its acquisition of 84 per cent stake in AMRI Hospitals.
Commenting on the transaction, Dr Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG), said,
“Manipal Hospitals always had patrons from Eastern India and countries in the region like Bangladesh. 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. We are delighted to welcome AMRI Hospitals into the Manipal family. With this addition, Manipal Hospitals would now serve patients in its 17th city in India in Bhubaneswar (Odisha). As a healthcare provider, AMRI has made a mark in the sector with its excellence in healthcare delivery and is a great asset that synergizes well with our core values of clinical excellence, patient centricity, and ethical practices and will help us provide enhanced exceptional quality care.”
On this development, Aditya Agarwal & Manish Goenka, Directors, Emami Group said, “In an endeavour to focus on our core businesses, we have divested our majority stake in AMRI Hospitals, which is a significant step in Emami Group’s stated objective. We will however, continue as an investor in AMRI Hospitals with 15 per cent stake. The Government of West Bengal will also have ~ 1 per cent stake in AMRI Hospitals.
AMRI, a healthcare group with 33 hospitals in 17 cities, has merged with Manipal Health Enterprise, forming a larger group with 1,200+ beds, 800+ doctors, and 5,000+ healthcare professionals, advised by Allegro Capital Advisors.