Insta
NIIFL To Make First Investment In Indian Healthcare Sector, To Invest Rs 2,100 Crore In Manipal Hospitals
Manipal Hospitals (Manipal Health)
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.
"We are delighted to partner with Manipal Hospitals in their next phase of growth. Through this investment, NIIFL looks forward to playing a role in serving the healthcare needs of India," NIIFL MD and CEO Sujoy Bose said.
“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.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
