NIIFL invests Rs 2,100 cr in Manipal Hospitals

The National Investment and Infrastructure Fund Limited (NIIFL) on April 1 announced an investment of Rs 2,100 crore in Manipal Hospitals, one of the largest multi-speciality healthcare providers in the country, through its Strategic Opportunities Fund (SOF).

The investment marks SOF’s first investment in the healthcare sector and will support Manipal Hospital’s journey of growth to become one of largest hospital chains in the country, said a press release.

The transaction has been signed by both parties and the closing of the transaction is subject to receipt of certain approvals, it added.

Sujoy Bose, Managing Director & Chief Executive Officer of NIIF, said, “We are delighted to partner with Manipal Hospitals in their next phase of growth. Through this investment, NIIF looks forward to playing a role in serving the healthcare needs of India.”

Ranjan Pai, Chairman of Manipal Education and Medical Group, said, “We are very pleased to join hands with NIIF as Manipal Hospitals continues on its path to reach many more geographies and under-served communities to provide both access and superlative clinical outcomes.”