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Temasek-backed Manipal Hospitals now scouts for M&A targets in South India

VCCircle

VCCircle · 1y ago

Temasek-backed Manipal Hospitals now scouts for M&A targets in South India

Manipal Hospitals, backed by Temasek, has announced its plans to acquire an 87% stake in Medica Synergie, a Kolkata-based hospital chain. Following this deal, Manipal Hospitals is now looking to expand its presence in South India where it has limited coverage. The company is seeking opportunities for brownfield expansions in various cities and states in the region.

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Temasek-backed Manipal Hospitals identifies M&A targets in growth push

VCCircle

VCCircle · 9m ago

Temasek-backed Manipal Hospitals identifies M&A targets in growth push

Manipal Hospitals, majority owned by Singapore's Temasek, is looking to expand its presence through mergers and acquisitions. The Indian hospital chain is currently evaluating around a dozen potential targets in southern states. Manipal Hospitals, led by Ranjan Pai, has already acquired majority stakes in AMRI in Kolkata and Fortis Healthcare in Malaysia as part of its growth strategy.

Temasek sells 8% stake in Manipal Health to Mubadala, others

Livemint

Livemint · 1y ago

Temasek sells 8% stake in Manipal Health to Mubadala, others

Singapore government's investment arm, Temasek Holdings, has reduced its stake in Manipal Health Enterprises (MHE) by selling up to 8% to investors including Mubadala Investment Company, Novo Holdings, and CalPERS. Despite the sale, Temasek will still hold a majority stake in MHE. The move comes after Temasek acquired a stake in Manipal last year, with the goal of de-risking its investment while maintaining a majority holding. Manipal is a leading healthcare network in India with over 30 hospitals and 9,500 beds.

Temasek-controlled Manipal Health leads race for regional hospital chain

VCCircle

VCCircle · 5m ago

Temasek-controlled Manipal Health leads race for regional hospital chain

Manipal Hospitals, controlled by Temasek, is leading the race to invest in a Maharashtra-based hospital chain. Manipal Hospitals, operated by Manipal Health Enterprises Pvt Ltd and led by Ranjan Pai, is in talks to acquire a significant stake in the regional chain. This move indicates Manipal Health's strategic expansion in the healthcare sector, leveraging Temasek's support to strengthen its presence and further enhance its market position in India’s hospital industry.

Temasek nets over 2x via swift India portfolio roll-up transaction

VCCircle

VCCircle · 1y ago

Temasek nets over 2x via swift India portfolio roll-up transaction

Singapore's state investment firm, Temasek, has sold its stake in Medica Synergie Pvt Ltd to Manipal Hospitals, generating a return on its investment of more than two-fold in less than two and a half years. Manipal Hospitals, based in Bengaluru, has acquired an 87% stake in the Kolkata-based healthcare company.

Mubadala in talks with Temasek for stake buy in India's Manipal Hospitals

Reuters · 1y ago

Mubadala in talks with Temasek for stake buy in India's Manipal Hospitals

Abu Dhabi sovereign fund, Mubadala, is reportedly in talks to acquire a stake of less than 10% in India's Manipal Hospitals. This could mark Mubadala's first investment in India's healthcare sector. The fund is in discussions with Singapore's Temasek, who recently raised its stake in Manipal to 59%. The talks are at an early stage, and if successful, the deal could be valued up to $500 million. Manipal Hospitals is the second-largest hospital chain in India, focusing primarily on cardiology, neurosurgery, and cancer care.

Temasek eyes more Indian family-run businesses after Haldiram's deal - The Economic Times

Economic Times

Economic Times · 1m ago

Temasek eyes more Indian family-run businesses after Haldiram's deal - The Economic Times

Singapore's state investor, Temasek, is keen on investing in Indian family-run businesses due to their strong brand loyalty and multigenerational legacies. After acquiring a 10% stake in Haldiram's for $1 billion, Temasek plans further investments in India's consumer sector. With prior investments in Indian family businesses like Manipal Hospitals, Temasek aims to drive long-term value creation and maintains a positive outlook, intending to invest up to $10 billion in India over three years.

Temasek-controlled Manipal Hospitals appoints lead banker as IPO plans take shape

VCCircle

VCCircle · 5m ago

Temasek-controlled Manipal Hospitals appoints lead banker as IPO plans take shape

Manipal Hospitals, primarily owned by Singapore's Temasek, has enlisted a lead merchant banker for its proposed initial public offering (IPO). The hospital chain, led by Ranjan Pai and operated by Manipal Health Enterprises Pvt. Ltd, is making strategic moves for its IPO, according to sources familiar with the development. This appointment marks a significant step in the hospital's financial strategy as it prepares for public market involvement.

Temasek building on India strategy with special focus on healthcare

Economic Times

Economic Times · 1m ago

Temasek building on India strategy with special focus on healthcare

Temasek, a Singapore investment fund, is enhancing its India strategy by focusing on scalable healthcare platforms. It aims to deliver accessible, affordable, and high-quality care through organic growth and acquisitions. Recent expansions include Manipal Hospitals acquiring Sahyadri Group, strengthening its presence in western India. Temasek supports multi-specialty and specialty healthcare sectors like oncology and IVF. With no immediate IPO plans, the focus remains on profitable growth in India's healthcare sector and exploring underserved markets.

Temasek-controlled Manipal Hospitals adds more bankers for stock exchange debut

VCCircle

VCCircle · 4m ago

Temasek-controlled Manipal Hospitals adds more bankers for stock exchange debut

Manipal Hospitals, majority-owned by Singapore's Temasek, is preparing for an initial public offering (IPO) by enlisting more bankers. The Indian hospital chain, led by Ranjan Pai and operated by Manipal Health Enterprises Pvt Ltd, has added Axis Capital among others to assist in its stock exchange debut. This strategic move indicates the hospital's efforts to strengthen its position and approach towards the upcoming IPO.

Manipal Hospitals backer Novo Holdings names former KKR exec as India head

VCCircle

VCCircle · 7m ago

Manipal Hospitals backer Novo Holdings names former KKR exec as India head

Novo Holdings, a Danish investment firm and investor in Manipal Hospitals and Qure.ai Technologies in India, has appointed Karthik Narayanaswamy as its new India head. This move aims to enhance the firm's activities in the South Asian market. Novo Holdings is known for its healthcare investments and owns a majority stake in the weight-loss drugmaker, Novo Nordisk.

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