About Careers MedBlog Contact us
Medindia LOGIN REGISTER
Advertisement

IDFC Private Equity Invests Rs 90 Crore In Manipal Health Systems

by Medindia Content Team on June 29, 2006 at 12:43 PM
Font : A-A+

IDFC Private Equity Invests Rs 90 Crore In Manipal Health Systems

Marking its first major investment into country's booming healthcare market, infrastructure investor IDFC today said it has placed a private equity placement of Rs 90 crore in Bangalore-based Manipal Health Systems , acquiring a minority stake in the firm.

The investment was made by IDFC Private Equity Fund II, a fund managed by IDFC Private Equity.

Advertisement

"We have acquired a minority stake in the firm and we will be part of it for a period of five years. We will also have an option to exit from this investment as the firm plans to go public," IDFC president & CEO Luis Miranda told PTI here.

Manipal Health Systems currently manages three tertiary care hospitals, eight secondary care hospitals and nine primary care centres in South India, including Bangalore-based Manipal Hospital.
Advertisement

The Company aims to grow organic as well as inorganic way, which will get a boost after this investment.

Manipal Health Systems is promoted by the Manipal Education and Medical Group (MEMG). The group operates an extensive network of healthcare and educational institutions in South India.

"This investment will help us reach our growth plans even faster. We are expanding beyond the south and are looking at setting up facilities in centres like Delhi and Mumbai," Manipal Health Systems CEO R Basil said.

Source:PTI News
Advertisement
Advertisement
Advertisement

Recommended Reading

This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close
×

IDFC Private Equity Invests Rs 90 Crore In Manipal Health Systems Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests