Expands Manipal Hospitals established presence in Bengaluru’s fast-growing Whitefield micro-market with 100 additional beds.
Manipal Health Enterprises Limited announced that it has signed a Business Transfer Agreement (BTA) with Kindorama Healthcare Private Limited for acquiring the entire operations of Kinder Women’s Hospital, located in Doddanekundi in the Whitefield region of Bengaluru, Karnataka (Kinder Hospital).
The acquisition will be undertaken for a cash consideration of INR 130 Crores towards the acquisition of the entire business operations and assets of Kinder Hospital. The transaction does not entail acquisition of shares.
Kinder Hospital is owned by Kindorama Healthcare Private Limited and operates in the healthcare services sector. Commissioned in 2022, the hospital has a current capacity of 100 beds. The acquisition will further expand Manipal Hospitals established healthcare presence in the Whitefield micro-market, where it already operates larger hospitals and has built a strong position as a leading healthcare provider. The addition of Kinder Hospital will help consolidate Manipal Hospitals position in one of Bengaluru’s fast-growing healthcare markets, while further expanding access to its clinical expertise and capabilities.
Dilip Jose, Managing Director & CEO, Manipal Health Enterprises, said,“The acquisition of Kinder Women’s Hospital strengthens our presence in Bengaluru’s fast-growing Whitefield micro-market and complements our existing healthcare ecosystem in the region. We remain committed to building on our clinical expertise and capabilities to deliver high-quality, patient-centric care to the communities we serve.”
The transaction is expected to be completed within 90 days, subject to necessary statutory and customary approvals, primarily related to the change of ownership of Kinder Hospital, as well as fulfilment of the conditions precedent stipulated in the BTA.
