Major Expansion Deal Signed
On the evening of July 9, 2025, Manipal Hospitals announced that it has signed definitive agreements to acquire Pune-based Sahyadri Hospitals from the Ontario Teachers’ Pension Plan for approximately ₹6,000 crore. The deal marks a significant milestone in Manipal’s expansion strategy.
About the Seller
As reported by The Hindu, the seller, Ontario Teachers’, is a prominent Canadian global investor with net assets totaling $194 billion as of December 31, 2024. The firm has held a stake in Sahyadri Hospitals, which is among Maharashtra’s leading private hospital chains.
Strengthening Manipal’s National Footprint
With this acquisition, Manipal Hospitals will add 11 more hospitals to its network, expanding its footprint across Pune, Nashik, Ahilya Nagar, and Karad. This move will increase Manipal’s hospital count to 49 and bring its total bed capacity to around 12,000, positioning it as one of the largest hospital networks in India.
Leadership Speaks on Strategic Growth
Commenting on the acquisition, Dr. Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), stated:
“This acquisition will strengthen our presence in western India, enabling us to extend world-class healthcare to more patients. It is a proud moment for us to have evolved from a single hospital in Bengaluru in 1991 into one of India’s largest hospital networks.”
Commitment to Clinical Excellence
Dilip Jose, Managing Director and CEO of Manipal Health Enterprises, emphasized the group’s continued dedication to patient care:
“At Manipal Hospitals, we remain committed to a patient-centric ecosystem anchored in clinical excellence and transparency. Our mission is to serve a diverse patient population from across India and abroad.”
He further noted that with the robust backing of strategic partners like Temasek and other key investors, the group is well-positioned to scale operations and deliver high-quality healthcare to more communities.
Advisory Team Behind the Deal
Manipal Hospitals was supported by a team of seasoned advisors during the transaction. These included:
- Allegro Capital Advisors and Barclays – Financial advisors
- Cyril Amarchand Mangaldas – Legal counsel
- Alvarez & Marsal – Accounting and commercial due diligence
- Deloitte – Tax advisory
Looking Ahead
With this bold move, Manipal Hospitals continues to solidify its leadership in the Indian healthcare sector. The acquisition not only expands its geographic reach but also reaffirms its commitment to delivering trusted, high-quality medical care across the country.