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Novo Holdings invests in Manipal Hospitals, a leading private hospital chain in India
COPENHAGEN, Denmark and SINGAPORE, Feb. 6, 2024 /PRNewswire/ — Novo Holdings today announced its investment in Manipal Hospitals (‘Manipal’), which constitutes Novo Holding’s largest investment in Asia to date. Manipal Hospitals is among the top healthcare providers in India, providing comprehensive curative and preventive care for a multitude of patients within India and from around the globe.
Established in 1991 with the launch of its flagship hospital in Bangalore, Manipal has become one of the pre-eminent private hospital chains in India. The network currently comprises 33 hospitals across the country with a bed capacity of 9,500+, serving an annual footfall of approximately 6 million patients.
A rising middle class, paired with an increased appreciation for advanced medical facilities and quality healthcare services, has driven an uptick in demand for private hospital care in the country. Other factors include the expansion of health insurance coverage and the sophistication of medical technology adopted at private institutions.
Dr. Amit Kakar, Managing Partner and Head of Novo Holdings Asia Investments, said
“The demand for affordable and accessible private healthcare services in India is increasing rapidly, and Manipal stands at the forefront to address patient needs through its consistent growth and ability to provide high-quality patient services at affordable prices. It has a history of several successful mergers and acquisitions, which is enabling patient care closer to home. Together with a highly capable executive team and like-minded investor base, I am excited for Novo Holdings to be part of Manipal’s next phase on its remarkable journey.”
Navjeewan J. Khosla, Partner, Novo Holdings Asia Investments, added
“We are very pleased to announce the investment in Manipal Hospitals. It represents our commitment towards filling the gap between the enormous demand and underserved healthcare infrastructure in India. By offering a vast range of high-end procedures and demonstrating a strong track record of delivering high-quality care at an affordable cost, a strong medical, technical and management team, Manipal is contributing to raising the bar for private hospitals in India.”
About Manipal Hospitals
As a pioneer in healthcare, Manipal Hospitals is among the top healthcare providers in India serving over 6 million patients annually. Its focus is to develop an affordable, high-quality healthcare framework through its multispecialty and tertiary care delivery spectrum and further extend it to out of hospital care. With the acquisitions of Columbia Asia Hospitals Private Limited and Vikram Hospital (Bengaluru) Private Limited, the integrated network today has a pan-India footprint of 33 hospitals with 9,500+ beds, and a talented pool of 5,000+ doctors. Manipal Hospitals provides comprehensive curative and preventive care for a multitude of patients from around the globe. Manipal Hospitals is NABH, AAHRPP accredited and most of the hospitals in its network are NABL, ER, Blood Bank accredited and recognised for Nursing Excellence. Manipal Hospitals has also been recognised as the most respected and patient recommended hospital in India through various consumer surveys.
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.
Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.
As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
www.novoholdings.dk
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.
www.novonordiskfonden.dk/en
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