Manipal Hospitals announced that it had signed definitive agreements to acquire Sahyadri Hospitals from the Ontario Teachers' Pension Plan (Ontario Teachers'), a global investor.

Key Highlights

• IPO‑bound Manipal bids around ₹6,150‑6,400 crore to acquire Sahyadri’s 11 hospitals, boosting bed count to 12,000.
• Deal tripled OTPP’s investment since 2022; Manipal strengthens western India presence ahead of its public debut.

The purchase will bring Ranjan Pai-backed Manipal's total bed count to about 12,000, making it one of India's biggest hospital networks, the company said. Although the transaction's exact value was not made public, it is thought to be worth approximately Rs 6,000 crore.

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The acquisition of Pune-based Sahyadri Hospitals will increase Manipal's network to include 11 hospitals in Pune, Nashik, Ahilya Nagar, and Karad, bringing its total number of hospitals to 49. As part of its strategy to expand its presence throughout India and give more patients access to top-notch medical care, Manipal will expand its presence in western India with this acquisition..

In 2022, Ontario Teachers', which had $194 billion in net assets as of December 31, 2024, bought the majority of Sahyadri. The chain has expanded ever since through well-timed mergers and acquisitions.