This investment marks SOF's first investment in the Indian healthcare sector and will support Manipal Hospitals' journey of growth to become one of India's largest hospital chains, a joint statement said. 

Bengaluru-headquartered Manipal Hospitals has a presence across India with 15 hospitals and a key focus on tertiary and quaternary care, it said. 

"The recent announcement of their acquisition of Columbia Asia Hospitals, a leading chain of hospitals, will augment their growth aspirations to become a healthcare provider of choice with high-quality multi-specialty offerings and a country-wide presence," the statement said. 

Managing Director & Chief Executive Officer of NIIF, Sujoy Bose, said, "It is exciting to partner with a highly capable management team that has created one of the most efficient healthcare delivery platforms in the country." 

Chairman of Manipal Education and Medical Group, Ranjan Pai, said, "Investing in the healthcare sector requires a long-term outlook as well as a sensitivity to social responsibilities, and I am glad that in NIIF we have a partner who shares these perspectives."