Manipal Hospitals acquires majority stake in Kolkata’s Medica Synergie

Manipal Hospitals, the second-largest hospital chain in India, on Monday, announced a definitive agreement to acquire 87% in Medica Synergie, a Kolkata-based hospital. The acquisition, set to be finalised after a few standard formalities, is a strategic move by Manipal Hospitals to boost its presence and network throughout eastern India and position itself as the region’s leading healthcare provider.

Medica Synergie’s strong infrastructural base and clinical expertise, combined with Manipal’s expanded network, will facilitate the firm to cater to the mounting needs for tertiary and quaternary healthcare services in eastern India, the company said in a statement.

“We are excited to incorporate Medica Synergie and its exceptional team of professionals into the Manipal family. Our acquisition will solidify our foothold in eastern India, allowing us to reach more people and address the healthcare needs of this under-served region,” said Dilip Jose, MD & CEO of Manipal Hospitals.

“We plan to apply our brand to Medica Synergie and capitalise on our combined strengths to deliver top-tier, patient-focused healthcare services to the people of eastern India, including cities such as Kolkata, Siliguri, and Ranchi,” he said.

The acquisition increases Manipal Hospitals’ annual patient count to 7 million across its network of 37 hospitals in 19 cities, spread across 14 states. Medica Synergie’s addition has raised the hospital bed count from over 9,500 to 10,500. With more than 5,600 doctors and an employee force exceeding 18,600, Manipal Hospitals continues its pledge to provide the best in patient care, adhering to the highest ethical practices.

The transaction was overseen by Manipal Health Enterprise Pvt. Ltd.’s advisors Allegro Capital Advisors, Khaitan and Co., and KPMG. It is pertinent to note that in September 2023, Manipal Hospitals had acquired an 84% stake in Emami Group’s AMRI Hospitals Ltd.