Manipal Hospitals has forayed into Mumbai in the healthcare space with the acquisition of Khubchandani Hospital in Andheri locality for Rs 415 crore. Singapore sovereign wealth fund Temasek is the largest shareholder in Manipal Hospitals, followed by the Pai family and TPG with a stake.

The transaction which has been registered includes both the hospital building, as well as the land on which it stands. Two years later, Manipal Hospitals signed a deal with consumer goods firm Emami to buy a majority stake in AMRI Hospitals for Rs 2,300 crore. It also expanded footprint in the east with buyout of hospital chain Medica for around Rs 1,400 crore.

Manipal Hospitals has made this move after securing a presence in South Indian markets, as well as in Delhi NCR, Pune, and Kolkata. In the western part, Manipal Hospitals is present in Goa and in Baner in Pune. In 2021, it acquired hospital chain Columbia Asia with its portfolio of 11 healthcare facilities.

While making brownfield expansion by acquiring hospitals over the past few years across various cities, the hospital chain has set up some greenfield facilities as well.