Manipal Hospitals Acquires Medica Synergie, Becoming India's Largest Hospital Chain
Manipal Hospitals has announced the acquisition of an 87% stake in Medica Synergie, a Kolkata-based hospital chain, for an estimated Rs 1,400 crore. This acquisition will make Manipal Hospitals the largest hospital chain in India, surpassing Apollo Hospitals Enterprise.
The deal will add Medica's 1,000 beds to Manipal's existing 9,500 beds, bringing the total bed count to over 10,500. This expansion will also give Manipal a pan-Indian footprint with 37 hospitals across 19 cities.
"This acquisition is in line with Manipal Hospitals' strategy of expanding footprint in Eastern India as the leading hospital chain in the region," the company said in a statement.
The acquisition is part of Manipal's ongoing expansion efforts. In September 2023, the company acquired an 84% stake in Emami Group's AMRI Hospitals.
"By leveraging the clinical expertise and infrastructure of Medica Synergie, along with the combined operations of its extensive network, Manipal Hospitals will be well positioned to meet the increasing demand for high quality tertiary and quaternary healthcare services in Eastern India," the company added.
Dilip Jose, Managing Director and CEO of Manipal Hospitals, commented on the development, saying, "With this acquisition, Manipal Hospitals builds on its strong presence in Eastern India and enables the company to meet the healthcare needs of this under-served region."
"We will integrate Medica Synergie into our portfolio and rebrand it. Together, we are poised to deliver enhanced, exceptional quality healthcare to our patients across Eastern India, including in Kolkata, Siliguri, and Ranchi," he added.