ABU DHABI, 5th February, 2024 (WAM) -- Mubadala Investment Company today announced that it is investing in Manipal Health Enterprises (Manipal). Temasek, a global investment company based in Singapore, will continue to hold a majority stake in Manipal.
Manipal provides affordable, quality healthcare through its multidisciplinary and tertiary care network, which currently serves around 6 million patients annually in more than 30 hospitals across the country. The company employs more than 5,000 doctors and is the second largest hospital chain in India in terms of number of beds.
"Manipal is one of India's leading healthcare networks, characterized by its commitment to clinical excellence, strong patient-centric approach and impeccable standards of corporate governance," said Camilla Macapili Languille, Head of Life Sciences at Mubadala. "With the ever-increasing demand for quality hospital care across India, we look forward to supporting Manipal's growth journey in the coming years."
"We are delighted to be working with such high caliber partners as Temasek, TPG, Dr. Ranjan Pai and Manipal's management team to take the company into the next phase of its growth trajectory," said Luca Molinari, Head of Asia, Direct Investments, at Mubadala. "Manipal plays a pivotal role in the development of India's national healthcare infrastructure and we are delighted to partner with the company."
Manipal was founded in 1991 by Dr. Ranjan Pai and quickly grew from its roots in Bangalore to an India-wide presence.
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