India’s Manipal Health Enterprises plans to spend $414.4 million to increase its bed capacity by over 18% in the next few years, a company executive said. The Temasek-backed company, one of India’s largest hospital chain operators, plans to add 2,400 beds to its existing 13,037 capacity within three to four years.
Expansion Plans
The Bengaluru-based chain operates 49 hospitals across India and competes with the likes of Apollo Hospitals Enterprise, Max Healthcare, and Fortis Healthcare. Manipal Health plans to issue new shares worth $828.4 million in its initial public offering (IPO), with existing investors including Temasek’s unit Imperius Healthcare Investments and TPG Capital offloading shares worth $132 million.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
