Manipal Hospitals, one of India's leading healthcare providers, has approached the Competition Commission of India (CCI) for approval to acquire Pune-based Sahyadri Hospitals from global investment firm Ontario Teachers' Pension Plan Board. The transaction is estimated to be valued between ₹6,200 crore and ₹6,400 crore, according to industry sources.
In a filing with the CCI, Manipal Hospitals Pvt Ltd stated that it plans to acquire up to 100% shareholding in Sahyadri Hospitals Pvt Ltd through multiple tranches. The filing emphasized that the proposed acquisition would not adversely impact competition in any relevant market in India.
While the companies did not officially disclose the transaction size, the deal marks a significant step in Manipal’s expansion strategy. The Bengaluru-based group had signed definitive agreements with Ontario Teachers' last month.
The acquisition will add 11 hospitals across Pune, Nashik, Ahilya Nagar, and Karad to Manipal’s growing network, raising its total to 49 hospitals and approximately 12,000 beds nationwide. This move strengthens Manipal's presence in western India and supports its broader goal of becoming a pan-India healthcare powerhouse.
Dilip Jose, Managing Director and CEO of Manipal Health Enterprises, highlighted the support from strategic partners such as Temasek, which enables the company to deliver its trusted brand of healthcare to more regions and patients.
Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), noted that the acquisition further consolidates Manipal’s position as one of the largest hospital chains in India.
Temasek, a Singapore-based global investment firm, backs Manipal Hospitals and reported a portfolio value of USD 324 billion as of March 31, 2025.
Ontario Teachers’, a global institutional investor managing net assets worth USD 266.3 billion as of December 31, 2024, had acquired a majority stake in Sahyadri Hospitals in 2022. With 11 hospitals and over 1,400 beds, Sahyadri is among Maharashtra’s largest private hospital networks.