VISION
NIIF’s investment in Manipal Hospitals represented one of the largest PE investments in the country by a domestic fund.
NIIF exited Manipal Hospitals in the top private equity exit of 2023. The Fund generated profits of INR 1,046 crores (USD125 million as per the exchange rate at the time of the transaction), making it one of the largest minority exits in India in terms of absolute profits over the last two years.
Broader outreach of quality healthcare services across the country continues to be a critical requirement in India. Manipal Hospitals is one of the leading hospital chains in the country, focused on tertiary and quaternary care. NIIF’s investment in Manipal Hospitals enabled the company to consolidate with Columbia Asia Hospitals, another leading chain of hospitals in the country. Post consolidation, Manipal Hospitals had over 7,200 beds across 26 hospitals in 14 key Tier I/II markets in India.