Singapore government-owned fund Temasek Holdings has acquired leading hospital chain Manipal Hospitals by owning about 59 per cent stake, according to a media report. Temasek-owned Sheares Health, which held 18 per cent stake in Manipal, has acquired an additional 41 per cent stake from the promoters and existing investors, the report adds. 

With this deal, the valuation of the hospital chain has reportedly surged to Rs 29,000 crore. 

After the deal, existing promoter Ranjan Pai and family’s stake will be lowered to 30 per cent, while existing investor TPG’s stake is reduced to 11 per cent, the report has said. 

Bengaluru-based Manipal Health Enterprises, the parent of Manipal Hospitals, has been expanding its footprint across the country through multiple buyouts. 

Recently, Manipal Health Enterprises had acquired Kolkata-based AMRI (Advanced Medical Research Institute) Hospitals in a deal worth Rs 2,400 crore, a report said.