Singapore-based investment firm Temasek is set to acquire an additional 41% stake in Manipal Health Enterprises, aiming to secure majority control of the Bengaluru-based healthcare giant. The move comes as part of Temasek’s strategic expansion plans, signaling a significant investment in the Indian healthcare sector.
Financial Details
While the companies involved have not disclosed the financial specifics of the deal, sources reveal that Temasek’s stake acquisition amounts to over ₹16,300 crore. This valuation places Manipal Health Enterprises (MHE) at approximately ₹40,000 crore, marking it as the largest deal in India’s healthcare industry.
Stake Distribution
Post-transaction, Manipal Group will retain around 30% ownership in Manipal Health Enterprises. Sheares Healthcare Group, a Temasek subsidiary, will maintain its existing 18% stake. Meanwhile, global alternative asset management firm TPG, an early investor in MHE, will completely divest its holdings but retain an 11% interest through its new Asia fund – TPG Asia VIII. Additionally, National Investment & Infrastructure Fund (NIIF) will exit its position in MHE.
Strategic Vision
Ranjan Pai, Chairman of Manipal Group, expressed gratitude for Temasek’s significant investment and reiterated the importance of long-term commitment and social responsibility in healthcare ventures. He highlighted the partnership with Temasek and TPG, emphasizing their shared values and dedication to advancing healthcare services.
Future Outlook
Manipal Hospitals, headquartered in Bengaluru, is a prominent player in the Indian healthcare landscape, catering to over fifty lakh patients annually across its 29 hospitals. With Temasek’s increased stake and strategic backing, the healthcare conglomerate is poised for further expansion and innovation in delivering high-quality medical services.
Temasek’s acquisition underscores its confidence in the growth potential of Manipal Health Enterprises and its commitment to fostering sustainable healthcare solutions in India and beyond.
Hiroto Suzuki
