Manipal Hospitals picks up 84% stake in AMRI Hospitals

21 Sep 2023 , 11:15 AM

Manipal Hospitals, an Indian hospital chain operator, announced on Wednesday that it has purchased an 84% share in AMRI Hospitals in order to extend its footprint in eastern India.

AMRI Hospitals, situated in Kolkata, is owned by FMCG-to-realty conglomerate Emami Group and has over 1,200 beds, 800 doctors, and 5,000-plus healthcare professionals.

Emami will retain a 15% share in AMRI, while the West Bengal government will retain a 1% stake.

Hospitals in India have been merging at near-record rates, with M&As totaling $4 billion in 2022 and $2.2 billion in the first five months of this year.

‘In order to focus on our core businesses, we have divested our majority stake in AMRI Hospitals,’ Emami Group directors Aditya Agarwal and Manish Goenka said in a statement.

The private healthcare sector in India has experienced a post-pandemic boom, with global consultant company PwC forecasting 12-14% annual growth for the country’s private healthcare business, which is currently valued at roughly $48 billion.

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