Manipal Hospitals has entered into a definitive agreement with Multiples Private Equity Fund for a 100 percent acquisition of Bengaluru-based multi-specialty hospital, Vikram Hospital.
Vikram Hospital is a 200-bed high-end tertiary care facility located in Bengaluru district and known for its clinical expertise in the fields of Cardiac and Neuro Sciences.
There are two greenfield hospitals that are currently under construction and once completed in the next 24 months, Manipal Education and Medical Group’s (MEMG) network of 12 hospitals with over 2,300 beds would be best placed to provide ease of access and comprehensive care to everyone across the city.
With this latest addition, Manipal Hospitals now has 27 hospitals spread across 14 cities, over 7,300 beds, 4,000 doctors and over 11,000 employees.
The Hospital Group is also scouting to expand its footprint in eastern India and further enhance its presence in the existing geographies.
Allegro Capital acted as financial advisors while PwC served as financial and tax diligence advisors and Trilegal as legal advisors for Manipal Hospitals on this deal.