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Manipal Seeks $466 Million Debt to Fund Sahyadri Hospitals Acquisition
ByAinvest
Monday, Jul 14, 2025 12:54 am ET1min read
Manipal Education & Medical Group is seeking $466 million in debt to fund its purchase of Sahyadri Hospitals. The funds could be raised through local currency bonds or loans with tenors ranging from three to five years. Banks such as DBS, Deutsche Bank, JPMorgan, and Standard Chartered are in talks with Manipal to provide the financing.
Manipal Education & Medical Group (MEMG) is in advanced talks with global lenders to secure $466 million in debt financing to complete its acquisition of Sahyadri Hospitals. The funds will be raised through local currency bonds or loans with tenors ranging from three to five years. Banks such as DBS Group Holdings Ltd., Deutsche Bank AG, JPMorgan Chase & Co., and Standard Chartered Plc are among those in discussions with Manipal [3].The acquisition of Sahyadri Hospitals, valued at around ₹6,400 crore, will significantly bolster Manipal's presence in western India. This deal will add 11 hospitals to Manipal's network, increasing its total number of hospitals to 49 and bringing its total bed count to approximately 12,000 [1].
MEMG, backed by Singapore state investment company Temasek Holdings Pte, has been actively pursuing this acquisition. The acquisition is expected to strengthen Manipal's position in the Indian healthcare market, as it aims to extend its reach and provide world-class healthcare services to more patients [2].
The transaction is subject to regulatory approvals and is expected to be completed soon. The acquisition financing represents an opportunity for international lenders seeking to grow their presence in India, particularly via private credit funds, according to a report from global consultancy firm EY [3].
References:
[1] https://www.hindustantimes.com/cities/pune-news/manipal-hospitals-acquires-sahyadri-hospitals-101752175814184.html
[2] https://www.moneycontrol.com/news/business/ontario-teachers-announces-sale-of-sahyadri-hospitals-to-manipal-hospitals-13252785.html
[3] https://www.bloomberg.com/news/articles/2025-07-14/india-s-manipal-plans-to-raise-to-raise-up-to-466-millio
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