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New investors include Mubadala, Novo Holdings and CalPERS
Temasek will continue to hold a majority stake in Manipal Health Enterprises
Bangalore, 2 February 2024 – It was announced today that Manipal Health Enterprises (MHE) is welcoming new investors Mubadala Investment Company (Mubadala), Novo Holdings and California Public Employees’ Retirement System (CalPERS) who have acquired a minority stake from Temasek, a Singapore-headquartered global investment company.
Following the closing of the transaction, Temasek will continue to a hold a majority stake in MHE.
Manipal Hospitals, headquartered in Bengaluru, Karnataka, has a pan-India presence. The hospital chain currently serves around 6 million patients a year through more than 30 hospitals across the country. Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds.
“Manipal is one of India’s leading healthcare networks, distinguishing itself through its commitment to clinical excellence, its strong patient-centric approach, and its impeccable standards of corporate governance,” said Camilla Macapili Languille, Head of Life Sciences at Mubadala. “Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal’s growth journey in the years ahead.”
Dr. Amit Kakar, Managing Partner and Head of Novo Holdings Asia Investments, said
“The demand for affordable and accessible private healthcare services in India is increasing rapidly, and Manipal stands at the forefront to address patient needs through its consistent growth and ability to provide high -quality patient services at affordable prices. It has a history of several successful mergers and acquisitions, which is enabling patient care closer to home. Together with a highly capable executive team and like-minded investor base, I am excited for Novo Holdings to be part of Manipal’s next phase on its remarkable journey.”
About Manipal Hospitals
As a pioneer in healthcare, Manipal Hospitals is among the top healthcare providers in India serving around 6 million patients annually. Its focus is to develop an affordable, high quality healthcare framework through its multispecialty and tertiary care delivery spectrum and further extend it to out of hospital care. The integrated network today has a Pan-India footprint of more than 30 hospitals with 9,500+ beds, and a talented pool of 5,000+ doctors.
Manipal Hospitals provides comprehensive curative and preventive care for a multitude of patients from around the globe. Most of their hospitals are NABH-accredited. Manipal Hospitals has also been recognized as one of the most respected and patient-recommended hospitals in India through various consumer surveys.
About Temasek
Temasek is a global investment company with a net portfolio value of US$287 billion (S$382b) as at 31 March 2023.
Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. As an active investor, forward looking institution and trusted steward, it is committed to deliver sustainable value over the long term.
Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively.
Headquartered in Singapore, it has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.
About Mubadala
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $276 billion (AED 1015 billion) portfolio spans six continents with interests in multiple sectors and asset classes. It leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
For more information about Mubadala Investment Company, please visit: www.mubadala.com
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.
Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.
As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.
Date : February 2, 2024
Publication name : The Hindu Business Online
Link:
Manipal Hospitals
Date : February 2, 2024
Publication name : The Hindu Business Online
Link:
Manipal Hospitals
Bengaluru-based Hospital Chain is Focusing on Adding Beds — Both Organically and Inorganically — and Offering More High-end and Complex Surgeries for Growth and Profit
Bengaluru-headquartered hospital network Manipal Health Enterprises (MHE), now the second largest in the country after Apollo Hospitals in terms of the number of beds, is eyeing a deeper penetration into the Indian market with a five-year growth strategy in tow.
As Ranjan Pai, promoter and chairman, Manipal Group, which holds 30 per centin MHE, putit: “We started off from Karnataka, and we will continue to invest here. In every market where we are present, we will continue to invest in green-field facil-ities, for example, in Jaipur and Pune.” He added that they will continue to consolidate in India. Manipal sold its Malaysia hospital in 2021 to focus only on India.
Manipal Hospitals also wishes to collaborate with smaller hospitals for providing tertiary and quaternary (an extension of tertiary level) care. Dilip Jose, managing director and chief executive director of Manipal Hospitals, said, “The focus of Manipal Hospitals will continue to be tertiary and quaternary care, not only because that will be the best use of our clinical talent and infrastructure, but since it also allows us to collaborate with smaller hospitals outside of our network.” He felt that instances of patients travelling out of the country for treatment are way below those in the past as India has the ability today to offer clinical outcomes comparable to the best in the world and at a fraction of the cost in other countries. He added that their medical services group is focused on enhancing clinical teams by attracting talent from within and outside the country. “It is core to our operating plans,” Jose said.
Manipal Hospitals aims to add another 1,100 beds from green-field expansion in Bengaluru and Raipur for 1,650 crore. It is close to acquiring Kolkata-headquartered AMRI Hospitals for 32,300 crore, which will add 1,200 beds to the network in the east. On top of this, there is a plan to add 1,200-1,300 beds through acquisitions in the next three years, taking its bed count to around 12,000.
Jose disagrees. “Itis not necessary that the complex surgeries have higher margins than the rest. Itis true that it might cost more for a patient, but the implants, consumables and ICU stays that are usually associated with complex procedures also drive up the cost of delivery of care. As many such items are price-controlled, the overall margin availableto the hospitals is not necessarily high. Examples are cardiac procedures, orthopaedics and spine surgeries and so on,” he said.
Margins, as Pai puts it, are a factor of efficiency management. “Our pricing is not the highest. Margins in the hospital sector are under pressure, and margins will continue to be under pressure,” he added.
For the moment, all he sees are opportunities. “We will have to work harder. These are exciting times for Indian healthcare. Looking at the global headwinds, India is in a very good space,” Pai felt.
Date : April 12, 2023
Publication name : Business Standard
Manipal Hospitals
Date : April 12, 2023
Publication name : Business Standard
Manipal Hospitals
Publication: Deccan Herald.
Topic: 158 Ayushmathi clinics for women in State.
Date : March 20, 2023
Publication name : Deccan Herald
Manipal Hospitals
Date : March 20, 2023
Publication name : Deccan Herald
Manipal Hospitals
CII recognized Mr. Sameer Agarwal as the Leading CFO in the Healthcare sector. This is the 2nd edition of the CFO Excellence awards in a competition among a few hundred CFOs of the healthcare sector across India.
Date : February 23, 2023
Publication name : CII
Manipal Hospitals
Date : February 23, 2023
Publication name : CII
Manipal Hospitals
Publication: The Times of India.
Topic: Hospitals to furniture, big cos to small ones, technology is core.
Date : February 22, 2023
Publication name : The Times of India
Manipal Hospitals
.jpg "Mr. Dilip Jose in The Times of India")
Date : February 22, 2023
Publication name : The Times of India
Manipal Hospitals
Topic: Karnataka health budget focuses on public health, preventive care; experts say implementation is key.
Publication: Kannada Prabha.
Date : February 18, 2023
Publication name : Kannada Prabha
Manipal Hospitals
Date : February 18, 2023
Publication name : Kannada Prabha
Manipal Hospitals
Publication: Forbes India.
Topic: Setting the stage for great customer experiences though excellence in operations.
Date : February 17, 2023
Publication name : Forbes India
Manipal Hospitals
Date : February 17, 2023
Publication name : Forbes India
Manipal Hospitals
ET Human Capital Awards 2023 Winner: Partha Das - HR LEADER OF THE YEAR (LARGE SCALE ORGANIZATIONS).
Publication: The Economic Times.
Date : February 3, 2023
Publication name : The Economic Times
Manipal Hospitals
Date : February 3, 2023
Publication name : The Economic Times
Manipal Hospitals
Healthcare professionals and hospitals are at the heart of providing quality healthcare services. Times Health Excellence 2022, conceptualized by Optimal Media Solutions, a division of Times Internet Limited, a Times Group company, seeks to recognize and celebrate healthcare providers, for their considerable contribution towards making the world a better place, by saving many from disease, illness, and even death.
Eminent medical professionals stepped into the limelight at JW Marriott Hotel, Vittal Mallya Road, on 26th December 2022. Bollywood actress and Chief Guest, Mrunal Thakar graced the spectacular occasion to appreciate the efforts of the professionals, and felicitate them with awards.
Healthcare, as we all know is one of the basic necessities of any living being. When it comes to health care it is not just about making it available to all but it is more of creating a compassionate and supportive environment for the patients. Manipal Hospitals is one such brand which is renowned in the healthcare sector for its experienced medical professionals, and quality and affordable healthcare. Being a part of the distinguished Manipal Education and Medical Group (MEMG), the Manipal Hospitals continuously aim to serve humanity. To do so they have kept highly intellectual people in their management who have been connected to the group for decades together.
Dr: Sudarshan Ballal, the chairman of Manipal hospitals is an acclaimed person who has a huge set of awards in his name. Starting from being the best outgoing student of the Kasturba Medical College with many gold medals in MBBS to being conferred the fellowship of the Royal College of Physicians, London for his contribution in medicine, this man has seen it all. Apart from leading Manipal Hospitals, he is also the chairman of Stempeutics Research Pvt. Ltd. and has been nominated as a board member of Management in Manipal Academy of Higher Education. Under his leadership, the hospital has grown to become the second-largest chain of hospitals in India.
Date : January 10, 2023
Publication name : Times of India Health
Manipal Hospitals
Date : January 10, 2023
Publication name : Times of India Health
Manipal Hospitals
Manipal Hospitals: At the Forefront of Digital Revolution in Healthcare
The partnership will allow the healthcare provider's clinical team to gain a holistic view of the patient post-discharge, curate treatments as per the patient's needs and assist them better in their journey towards a quick post-surgery recovery.
To further maximize its remote care capabilities, the company has partnered with Google Cloud to leverage the latter's AI technology to enhance the patient experience. The partnership involves the use of the Amwell telehealth platform for enabling virtual visits to Manipal's chain of hospitals across the country. Amwell has been Google's preferred telehealth partner to expand access to virtual care delivery across the world since August, 2020.
The Connected Life platform will allow the hospital to replace lengthy manual processes with 24/7 insight-based care & monitoring, enabling recovery outside of hospitals
MR. DILIP JOSE, MD & CEO, Manipal Hospitals
Date : January 4, 2023
Publication name : National
Manipal Hospitals
Date : January 4, 2023
Publication name : National
Manipal Hospitals
