NIIFL To Make First Investment In Indian Healthcare Sector, To Invest Rs 2,100 Crore In Manipal Hospitals

In its first investment in the Indian healthcare sector, the National Investment and Infrastructure Fund Ltd (NIIFL) on Thursday (1 April) announced an investment of Rs 2,100 crore in Manipal Hospitals.

In a joint statement, NIIFL and Manipal Hospitals said that this will support Manipal Hospitals' journey of growth to become one of India's largest hospital chains.

NIIFL, through its direct private equity fund and Strategic Opportunities Fund, will get a minority stake in Manipal Hospitals as Chairman of Manipal Education and Medical Group Ranjan Pai is selling a small percentage of his stake in the company, reports LiveMint.

“The strong governance, processes and track record of Manipal Hospitals resonate well with NIIFL's investment philosophy,” he added.

"We are pleased to join hands with NIIFL as Manipal Hospitals continues on its path to reach many more geographies and under-served communities to provide both access and superlative clinical outcomes," Chairman of Manipal Education and Medical Group Ranjan Pai said.

While NIIFL manages over $4.5 billion of equity capital commitments across three funds, Bengaluru-headquartered Manipal Hospitals operates and manages about 6,000 beds across 15 hospitals.