Mumbai, January 7-In a major corporate acquisition bid, US-based healthcare chain Columbia Asia’s Indian hospital has now been acquired by Manipal Hospitals and TPG Capital Management.
People who observed the process of the deal closely said that the consortium has emerged as the front runner to grab the deal acquiring assets worth Rs 2,000 crore.
According to report in The Economic Times, the transaction process is likely to be completed by this year end as Manipal-TPG has entered into talks with Columbia Asia management.
“Negotiations are advancing faster and we hope to conclude it by March,” said one of the people as per the report.
With a total bed strength of 1,200 and with 200 another beds likely to be added to the count, Columbia Asia has 11 facilities in the country.
By creating Asian Healthcare Holdings (AHH) in 2017, Texas based TPG has reportedly emerged as a promising and aggressive investor in Indian healthcare industry.
In 2015, TPG invested $146 million in Manipal in 2015. TPG Capital, the buyout arm of private equity firm TPG Group, holds a 25% stake in Manipal Health Enterprises.