(Reuters) -Ontario Teachers’ Pension Plan (OTPP) said on Wednesday that it has agreed to sell its majority stake in India’s Sahyadri Hospitals Group to Temasek-backed Manipal Hospitals. The pension fund, which acquired the stake in Sahyadri Hospitals in 2022, did not disclose the value of the stake sale. Manipal Hospitals said in a statement that […]
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India’s Manipal Hospitals to buy majority stake in local peer Sahyadri
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(Reuters) -Ontario Teachers’ Pension Plan (OTPP) said on Wednesday that it has agreed to sell its majority stake in India’s Sahyadri Hospitals Group to Temasek-backed Manipal Hospitals.
The pension fund, which acquired the stake in Sahyadri Hospitals in 2022, did not disclose the value of the stake sale.
Manipal Hospitals said in a statement that the deal would increase its total bed count to about 12,000, making it one of India’s largest hospital networks.
In June this year, KKR provided $600 million financing to the Manipal Group to expand its corporate development.
(Reporting by Gursimran Kaur in Bengaluru; Editing by Shailesh Kuber)