Manipal Hospitals Seals ₹6,000 Crore Deal to Acquire Pune-based Sahyadri Hospitals

In a significant move to expand its presence in western India, Manipal Hospitals has announced a ₹6,000 crore acquisition of Pune-based Sahyadri Hospitals from Ontario Teachers’ Pension Plan. The agreement, signed on the evening of 9 July 2025, marks a key milestone for the Bengaluru-headquartered hospital chain as it continues its national expansion strategy.

11 Hospitals Added, Network Grows to 49

With this acquisition, Manipal Hospitals will add 11 new hospitals across Pune, Nashik, Ahilya Nagar and Karad, bringing its total network to 49 hospitals. The expansion also increases its bed capacity to 12,000, positioning Manipal among the largest private hospital chains in the country.

Ontario Teachers’, a Canadian global investor, held Sahyadri Hospitals prior to this transaction. As of 31 December 2024, Ontario Teachers’ had net assets valued at $194 billion, underscoring the scale and credibility of the seller in this high-value deal.

Strategic Intent and Leadership Comments

Dr. Ranjan Pai, Chairman of Manipal Education and Medical Group (MEMG), remarked:

“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 grown over time from a single hospital in Bengaluru in 1991 into one of the largest hospital networks.”

Adding to this, Dilip Jose, Managing Director & CEO of Manipal Health Enterprises, said:

“At Manipal Hospitals, we are focused on maintaining a patient-centric ecosystem rooted in clinical excellence and transparency, serving a multitude of patients from all over the country, and beyond.”

He also acknowledged the contribution of partners and investors, “With the strong partnership of Manipal’s valued stakeholders like Temasek and other investors, we are excited to grow operations and bring Manipal’s trusted brand of quality healthcare to many more patients.”

Advisory Teams and Execution

The deal was facilitated with the support of multiple advisory firms. Allegro Capital Advisors and Barclays acted as financial advisors, while Cyril Amarchand Mangaldas provided legal counsel. Alvarez & Marsal handled accounting and commercial due diligence, with Deloitte advising on tax matters.

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Conclusion

The acquisition of Sahyadri Hospitals marks another bold step in Manipal Hospitals’ growth journey, solidifying its position as a pan-India healthcare leader. With a broadened presence in Maharashtra and strengthened investor backing, the hospital chain is poised to bring quality healthcare to even more corners of the country.

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