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.
This week, PE firm Temasek raised its stake by 41 per cent, giving it a controlling stake of 59 per cent. Earlier investor TPG has also re-invested in MHE through its new Asia fund, TPG Asia VIII, and holds 11 per cent.
With Rs 4,600 crore revenues in FY23 and an Ebitda margin of around 26 per cent, Manipal ranks among the top five corporate hospitals in India now. It operates 8,300 beds across 29 locations.
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