Manipal Hospitals, India’s second largest healthcare provider, has acquired an 84% stake in Kolkata-based AMRI (Advanced Medical Research Institute) Hospitals for Rs 2,400 crore.
This makes Manipal Hospitals the largest hospital chain in eastern India to cater to tertiary and quaternary healthcare. AMRI Hospitals was owned by Emami Group, the diversified conglomerate with presence in FMCG, edible oil, paper and more. Emami will continue to hold a 15% stake in AMRI, while the West Bengal government will have 1% stake.
The deal came to fruition after a prolonged legal battle between Manipal and Emami. Manipal had taken Emami to court to prevent it from selling its stake to any third party.
This makes Manipal Hospitals the largest hospital chain in eastern India to cater to tertiary and quaternary healthcare. AMRI Hospitals was owned by Emami Group, the diversified conglomerate with presence in FMCG, edible oil, paper and more. Emami will continue to hold a 15% stake in AMRI, while the West Bengal government will have 1% stake.
The deal came to fruition after a prolonged legal battle between Manipal and Emami. Manipal had taken Emami to court to prevent it from selling its stake to any third party.
