National Investment and Infrastructure Fund Limited (NIIF) on Thursday announced an investment of ₹ 2,100 crore in Manipal Hospitals based in Bengaluru through its Strategic Opportunities Fund (SOF).
NIIF MD and CEO Sujoy Bose said, “With this investment, we look forward to playing a role in meeting India’s health needs.”
“Manipal Hospitals’ strong governance, process and track record resonates well with NIIF’s investment philosophy.” ‘
Manipal Hospital, which has 15 multi-specialty hospitals in the country, focuses on tertiary and quaternary care. According to a statement, the recent announcement of its acquisition of Columbia Asia Hospitals is expected to increase its expansion activities.
“Manipal Hospitals continues on its path to reach many more geographic and under-served communities to provide both its reach and superb clinical outcomes,” said Ranjan Pai, chairman of Manipal Education and Medical Group.
“Investing in the healthcare sector requires a long-term approach as well as sensitivity to social responsibilities, and I am delighted that we have a partner at NIIF who shares these perspectives,” Dr. Pie said.
This investment ranks SOF’s first in India’s healthcare sector. The SOF focuses on those sectors, which are closely linked to the growth and profit of the country by demographics, consumption, investment and policy trends. NIIF currently manages over $ 4.5 billion of equity capital commitments in three funds – Master Fund, Fund of Funds and Strategic Opportunities Fund.
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