Manipal Hospitals, backed by Singapore state investor Temasek, is close to acquiring Kerala-based hospital chain KIMS Health for ₹3,500-4,000 crore, two people familiar with the development said. Manipal intends to buy the stake held by True North, which invested $200 million in KIMS Group in March 2017.
Discussions are in advanced stages, and an announcement is expected soon, the people cited above said on condition of anonymity. Founded in 2002, KIMS, short for Kerala Institute of Medical Sciences, is a network of hospitals offering quaternary care in India and the Middle East.
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