Manipal Hospitals Acquires Majority Stake in Medica Synergie

Manipal Hospitals, a leading multispeciality hospital, added that it is gaining an 87% stake in Kolkata-based clinic chain Medica Synergie in a contract that industry sources said is expected to be worth an expected ₹1,400 crore.

The acquisition will see the Karnataka-based clinic chain increase its bed count from 9,500 to more than 10,500, making it the biggest healthcare firm in the nation, it said in a proclamation.

According to Dilip Jose, MD & CEO, this acquisition also fits Manipal Hospitals' strategy of widening its footprint and presence in Eastern India, including Kolkata, Siliguri, and Ranchi.

“With this acquisition, Manipal Hospitals builds on its strong presence in Eastern India, enabling us to expand our reach and meet the healthcare needs of this under-served region. We will integrate Medica Synergie into our portfolio and rebrand it," Jose added.

Manipal Hospitals, backed by Temasek, a Singapore-based investment firm, anticipates closing the deal after completing a few standard procedures. With the acquisition of Medica, Manipal Emergency Clinics will have 37 clinics spread across 199 urban areas in 14 states.

The acquisition marks one more huge speculation by a hospital chain planning to expand its national presence. The hospital chain also announced a similar acquisition of an 84 percent stake in Kolkata-based Emami Group's AMRI Hospitals Ltd.