Manipal Hospitals, a multi-specialty healthcare provider is all set to acquire 100% stake in Columbia Asia Hospitals Private Limited that has 11 hospitals in India, spread across seven cities. As per the report, the deal is valued at Rs 2,100 crore.
Responding to the development, Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), was quoted as saying: “We are very pleased to welcome Columbia Asia Hospitals to the Manipal family and proudly acknowledge their outstanding track record of healthcare delivery of a very high standard over the years.”
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Commenting on the deal, Dan Baty, Chairman of Columbia Pacific Management told CNBC, “From day one, we focused on building a culture of putting the patient first to deliver the highest quality healthcare with integrity and exceptional service. This combination of Columbia Asia and Manipal Hospitals is very exciting because of the strong cultural alignment between the two companies – and the opportunity it provides for continued growth.”
Columbia Asia Hospitals commenced operations in India in 2005 in Hebbal, Bengaluru. Presently it operates 11 hospitals across the country in Bengaluru, Mysore, Kolkata, Gurugram, Ghaziabad, Patiala and Pune. The network comprises over 1,300 beds, 1,200 clinicians and 4,000 employees.