Business

CCI clears acquisition of Columbia Asia Hospitals by Manipal Health

The Competition Commission of India (CCI) on Friday authorized acquisition of Columbia Asia Hospitals by Manipal Health Enterprises.

The approval got here after multispecialty healthcare supplier Manipal Hospitals in November 2020 mentioned it has entered right into a definitive settlement to accumulate Columbia Asia Hospitals in India.

The acquisition shall be for Rs 2,100 crore, sources had earlier mentioned.

Together, the mixed entity can have a presence of 27 hospitals throughout 15 cities with over 7,300 beds and a pool of greater than 4,000 medical doctors and over 10,000 staff, the healthcare suppliers had mentioned in a press release.

The acquisition affords a geographical and cultural match and supplies Manipal Hospitals a bigger nationwide footprint, a mixture discover filed with the regulator mentioned.

The sturdy medical experience and breadth of providers of Manipal Health Enterprises complemented by the strengths of Columbia Asia Hospitals in medical and repair high quality, will make sure that the mixed entity would enhance entry to healthcare within the nation, the assertion mentioned.

The merger may even assist deal with the rising demand and expectations for high-quality tertiary and quaternary healthcare within the nation, it added.

In a tweet, the regulator mentioned the “Commission approves acquisition of 100 per cent shareholding of the Columbia Asia Hospitals by Manipal Health Enterprises”.

(Only the headline and movie of this report might have been reworked by the Business Standard workers; the remaining of the content material is auto-generated from a syndicated feed.)

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