Media Release
Bengaluru, Feb 2: It was announced today that Manipal Health Enterprises (MHE) is welcoming new investors Mubadala Investment Company (Mubadala), Novo Holdings and California Public Employees’ Retirement System (CalPERS) who have acquired a minority stake from Temasek, a Singapore-headquartered global investment company.
Following the closing of the transaction, Temasek will continue to a hold a majority stake in MHE.
Manipal Hospitals, headquartered in Bengaluru, Karnataka, has a pan-India presence. The hospital chain currently serves around 6 million patients a year through more than 30 hospitals across the country. Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds.
“Manipal is one of India’s leading healthcare networks, distinguishing itself through its commitment to clinical excellence, its strong patient-centric approach, and its impeccable standards of corporate governance,” said Camilla Macapili Languille, Head of Life Sciences at Mubadala. “Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal’s growth journey in the years ahead.”
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.”
About Manipal Hospitals
As a pioneer in healthcare, Manipal Hospitals is among the top healthcare providers in India serving around 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. The integrated network today has a Pan-India footprint of more than 30 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. Most of their hospitals are NABH-accredited. Manipal Hospitals has also been recognized as one of the most respected and patient-recommended hospitals in India through various consumer surveys.
About Temasek
Temasek is a global investment company with a net portfolio value of US$287 billion (S$382b) as at 31 March 2023.??
Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. As an active investor, forward looking institution and trusted steward, it is committed to deliver sustainable value over the long term.?
Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively.?
Headquartered in Singapore, it has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.?
About Mubadala
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $276 billion (AED 1015 billion) portfolio spans six continents with interests in multiple sectors and asset classes. It leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
For more information about Mubadala Investment Company, please visit: www.mubadala.com
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