Bhubaneswar: Manipal Hospitals, the second-largest hospital chain under Manipal Education and Medical Group (MEMG) in India today, announced its acquisition of 84% stake in AMRI Hospitals Ltd., which included its unit in Bhubaneswar.
The acquisition fits into the growth strategy of Manipal Hospitals to have a larger footprint and expanded presence in Eastern India as the largest hospital chain in that region.
The clinical expertise and infrastructure of AMRI Hospitals combined with synergies of its large network would enable Manipal Hospitals to effectively address the growing demand for high-quality tertiary and quaternary healthcare in Eastern India.
The acquisition of AMRI Hospitals offers a remarkable geographical fit for Manipal Hospitals. Treating nearly 5 lakhs patients annually with the most advanced technology, AMRI is ranked as one of the largest healthcare provider networks in Eastern India.
The hospital chain has operations in Dhakuria, Mukundapur & Salt Lake (all in Kolkata) and another at Bhubaneswar, comprising more than 1,200 beds, over 800 doctors, and 5,000-plus healthcare professionals. Together, the combined entity will have 33 hospitals across 17 cities with 9,500 beds, and a talent pool of over 5,000 doctors and 20,000 employees.
Commenting on the transaction, 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.”
With this addition, Manipal Hospitals would now serve patients in its 17th city in India in Bhubaneswar (Odisha), Dr.Pai said.
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% stake. The Government of West Bengal will also have ~ 1% stake in AMRI Hospitals.
“As we handover the charge to Manipal Hospitals, we feel confident that AMRI and its people are in good hands and that the Manipal Group will continue to provide the best of healthcare services to the people of Eastern part of India and neighboring countries and also accelerate AMRI’s growth trajectory in the future,” the Directors said.