Valuation of Manipal Hospitals hits $13 bn

Firm eyes IPO in 2026

- SHINE JACOB & SOHINI DAS

Bengaluru-headquartered Manipal Hospitals' valuation has jumped by at least $1 billion (over ₹8,000 crore) after the acquisition of Sahyadri Hospitals, reaching around $13 billion (over ₹1.1 trillion), according to multiple sources familiar with the development. This marks more than a threefold increase from the $3 billion (around ₹25,000 crore) valuation reported in 2021.

Manipal Hospitals announced late Wednesday that it had acquired Sahyadri Hospitals from the Ontario Teachers' Pension Plan (OTPP), a global investor with net assets of $194 billion. The size of the deal is reportedly over ₹6,000 crore. "This ₹6,000 crore, plus an upside value of over ₹2,000 crore, will now increase Manipal's valuation by over ₹8,000 crore," said an industry source.

The company has acquired four major hospitals — Medica, Columbia Asia, AMRI, and Vikram Hospitals — since 2020.