Dubai: The Abu Dhabi wealth fund Mubadala has made one of its most visible investments in India, picking a stake in Manipal Health Enterprises (Manipal), one of the country's most renowned brands in healthcare.
The Singapore fund Temasek will continue to hold a majority stake in Manipal, which has 30 odd hospitals in India.
Manipal offers 'affordable and high-quality' healthcare through multi-specialty and tertiary care network, which currently serves around 6 million patients a year. "Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds," said a statement by Mubadala.
“Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal’s growth journey in the years ahead,” said Camilla Languille, Head of Life Sciences at Mubadala.
6 m
Number of patients treated each year at the 30 plus Manipal owned and operated hospitals in IndiaManipal was founded by Dr Ranjan Pai in 1991, and rapidly grew from its roots in Bangalore to build a pan-Indian presence.
“We are delighted to work with such high-quality partners like Temasek, TPG, Dr. Ranjan Pai and the management team of Manipal to drive the business through the next phase of its growth trajectory,” said Luca Molinari, Head of Asia, Direct Investments, at Mubadala. “Manipal is playing a central role in developing India’s national healthcare infrastructure and we are tremendously excited to partner with them.”
An industry on cusp of faster growth
India's healthcare sector is passing through one of its fast-growth phases, as the country tries to ramp up speciality care and extend its healthcare capacities to take in possibilities in Tier B and C cities, each of which are seeing sustained increases in their populations.
Last week, in the interim budget, Finance Minister Nirmala Sitharaman spoke about more medical colleges and the likes in the country. According to healthcare industry sources, private sector investments will continue to plough into the many possibilities within the Indian healthcare universe.
Manipal is one of India’s leading healthcare networks, distinguishing itself through its commitment to clinical excellence, its strong patient-centric approach, and its impeccable standards of corporate governance
