Bengaluru-based Manipal Hospitals to acquire Columbia Asia for Rs 2,100 cr

The deal may mark the exit of US based hospital chain from India

Bengaluru-based hospital chain Manipal Hospitals has entered into a definitive agreement to acquire Columbia Asia Hospitals for an undisclosed sum. According to sources, the deal size may be around Rs 2,100 crore. This is likely to mark the exit of the US-based hospital chain from India. 

Private equity (PE)-backed Manipal Hospitals will achieve scale through this acquisition. Size is critical to the hospital business as one gets more leverage in terms of cost. 

Manipal Health Enterprises, a privately held entity, posted revenues of around Rs 2,100 crore in 2019-20 and is funding the acquisition through a mix of debt (about