Manipal Hospitals acquires Bengaluru-based Vikram Hospital

PTI, Jun 3, 2021, 1:12 PM IST

Bengaluru: Leading hospital chain Manipal Hospitals on Thursday said it has acquired Bengaluru-based multi-specialty Vikram Hospital.
The company, however, did not share the financial details of the acquisition.

Manipal Hospitals has entered into a definitive agreement with Multiples Private Equity Fund for a 100 percent acquisition of Vikram Hospital, making this its 10th hospital in the city, the company said in a statement.

This comes close on the heels of its acquisition of the India operations of Columbia Asia Hospitals in April 2021.

“Manipal Hospitals has been the top ranked healthcare provider in Bengaluru for over two decades and this addition is reiteration of our commitment to meet the healthcare needs of the city and the region,” Manipal Education and Medical Group (MEMG) Chairman Ranjan Pai said.

There are two greenfield hospitals that are currently under construction and once they are complete in the next 24 months, “our network of 12 hospitals with over 2,300 beds would be best placed to provide ease of access and comprehensive care to everyone across this fast growing city,” he added.

Established in 2009, Vikram Hospital is a 200-bed high-end tertiary care facility.

On the development, Multiples Private Equity Fund Founder Renuka Ramnath said, “With this larger canvas our doctors will have the ability to have a deeper impact on the healthcare needs of the city.”

With this latest addition, Manipal Hospitals now has 27 hospitals spread across 14 cities, more than 7,300 beds and a pool of 4,000 doctors and over 11,000 employees, the statement said.

The hospital group is also scouting to expand its footprint in eastern India and to further enhance its presence in the existing geographies, it added.