Competition Commission of India (CCI) has cleared healthcare major Manipal Hospitals' proposal to acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan Board in a deal estimated at Rs. 6,400 crore.
“The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace, according to a news agency report.
“The proposed combination involves the acquisition of up to 100 per cent shareholding by the acquirer (Manipal Hospitals Pvt Ltd) in the target (Sahyadri Hospitals Pvt Ltd) in multiple tranches," the Competition Commission of India said in a release.
Not details of the deal size was disclosed , but industry sources estimate the transaction to be in the range of Rs. 6,200-6,400 crore, according to a news agency report.
"CCI approves the proposed combination involving acquisition of up to 100 per cent shareholding by Manipal Hospitals Pvt Ltd in Sahyadri Hospitals Pvt Ltd," as the post on X.
In July, Manipal Hospitals announced that it had inked definitive agreements with Ontario Teachers' for the acquisition. The Bengaluru-based healthcare major said the acquisition of Sahyadri Hospitals will bring its total bed count to about 12,000, making it one of India's largest hospital networks.
The acquisition will add 11 hospitals to Manipal's network across Pune, Nashik, Ahilya Nagar and Karad, increasing its total number of hospitals to 49, it added.
Through this acquisition, Manipal said it will expand its presence in western India, in line with its strategy to augment its pan-India footprint.
Ranjan Pai, chairman, Manipal Education and Medical Group (MEMG) said the acquisition will strengthen Manipal's presence in western India.
"With this expansion, Manipal Hospitals will have a network of approximately 12,000 beds nationwide, solidifying our position as one of the largest hospital chains in India," he added.
Manipal Hospitals is backed by Temasek, a global investment company, headquartered in Singapore, with a net portfolio value of around USD 324 billion as of March 31, 2025.
A global investor with net assets of US$ 266.3 billion as of December 31, 2024, Ontario Teachers' Pension Plan Board (Ontario Teachers') acquired a majority stake in Sahyadri in 2022.
The Pune-based hospital chain is now one of Maharashtra's largest, with 11 hospitals and over 1,400 beds.