The Bengaluru-based Manipal Health Enterprises Private Ltd, also known as Manipal Hospitals, is India’s second biggest hospital network, with 33 facilities and more than 9,500 beds and 6,000 doctors. Every year, Manipal Hospitals serves more than five million patients.
Last year, Singapore’s sovereign wealth fund Temasek Holdings bought a majority stake in Manipal Hospitals for $2 billion. Manipal is now on expansion mode. Under managing director and CEO Dilip Jose, it has completed the acquisition of Kolkata-based AMRI Hospitals, and is exploring greenfield and brownfield opportunities. Jose has more than 32 years of experience across sectors, including 18 in leadership positions in health care. Before joining Manipal, he was the group CEO of CARE Hospitals, managing a network of tertiary care facilities.
In an exclusive interview, Jose speaks about his expansion plans and the current strategy with Temasek controlling the majority stake.
Q/ How have been things post Temasek acquiring a majority stake?
A/ Temasek has been an investor in Manipal Hospitals for over six years. They raised their stake from 18 per cent to 59 per cent. Dr Ranjan Pai now holds 30 per cent.
From our perspective, it is the same set of investors. There is continuity, because all investors are familiar with the company and the health care sector in India. There is continuity in management and governance.
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