Manipal Hospitals set to acquire 100 pc stake in Columbia Asia Hospitals

Manipal Hospitals announced on Monday that it intends to acquire 100 per cent stake in Columbia Asia Hospitals Private Limited.

Manipal Hospitals announced on Monday that it intends to acquire 100 per cent stake in Columbia Asia Hospitals Private Limited. The transfer of ownership to Manipal Hospitals is expected to be completed post regulatory approvals.

The acquisition will result in the combined entity having a presence of 27 hospitals across 15 cities with over 7,300 beds and a pool of 4,000 plus doctors and more than 10,000 employees. Commenting on the deal, Dr Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG), said, "We are very pleased to welcome Columbia Asia Hospitals to the Manipal family and proudly acknowledge their outstanding track record of healthcare delivery of a very high standard over the years. Columbia Asia makes a compelling strategic fit to our core values of clinical excellence, patient-centricity and ethical practices, and will help us advance our commitment to provide outstanding patient care.

"This is the start of an exceptional journey for us and together with Columbia Asia, we are now bigger, stronger and uniquely positioned to meet the growing expectations of the communities we serve across the country," he added. Sharing his views on the deal, Dan Baty, Chairman, Columbia Pacific Management said, "From day one, we focused on building a culture of putting the patient first to deliver the highest quality healthcare with integrity and exceptional service. This combination of Columbia Asia and Manipal Hospitals is very exciting because of the strong cultural alignment between the two companies - and the opportunity it provides for continued growth." (ANI)

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