Financial Insights

Manipal Health deal to buy AMRI hospitals nears completion

In Nov 2021, Bengaluru based Manipal Group was in talks to buy Emami’s hospital business under the name of AMRI Hospitals. COO of Manipal Hospitals had at the time stated that the group was looking to completely takeover AMRI Hospitals as it would help them come closer to healthcare leader Apollo. Today the group is in final talks to acquiring the business in a deal of nearly Rs 1,800 crores.

The deal was delayed for over a year due to valuation issues and pending paperwork. The deal is now said to be in its final stages of due diligence. The promoters of Emami have been trying to sell the Hospitals business since 2018 to provide all of their efforts on the flagship business of FMCG which manufactures cosmetics, edible oil, etc. and reduce their overall debt.

Emami will continue to own a diagnostic centre which is not a part of this deal. It is said that they will look for someone to sell the business to as well. AMRI Hospitals has 4 hospitals in its name, 3 in Kolkata and 1 in Bhubaneshwar. Manipal hospitals operates a total of 27 hospitals currently.

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