From the profile in The Smart CEO:
Today, Manipal Health Enterprise’s network encompasses 10 corporate hospitals with 1,600 beds and five teaching hospitals with 3,300 beds, across Andhra Pradesh, Karnataka, Tamil Nadu and Goa. The employee strength across these regions is over 6, 000 nurses, doctors and other administrative staff.Venture Intelligence is the leading provider of data and analysis on private equity, venture capital and M&A transactions in India as well as Financials & Valuations of Private Companies in the country. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.
The company recently raised private equity to the tune of US id="mce_marker"80 million from India Value Fund, with the intention of channelising this towards strategic expansion. Over the next three years, the hospital expects to add around 3,000 beds to its network and triple its revenues from Rs. 700 crore to over Rs. 2,500 crore.
...Until today, the group’s expansion has been limited to Tier-II and Tier-III regions in South India, mainly because of acquisition and brown-field opportunities like unmet demand and rapid growth, which these markets offer. “Growth in India is going to take place in the Tier-II and Tier-III cities with an increasing portion of household expenditure being spent on healthcare. As a major provider of healthcare, we see significant opportunities for expansion of our hospital network in these regions,” says Padukone.
For the next phase of growth, the group has adopted a strategy that focuses on four thrust areas. Firstly, consolidation of operations in locations it is currently present in and building hospitals in existing locations to further strengthen its presence and reach, especially in Bangalore. Secondly, moving to new, contagious locations such as Orissa, Madhya Pradesh and Maharashtra through green and brown field hospitals. Thirdly, entering other parts of the country and acquiring a cluster of hospitals, which have a significant presence in the region and lastly, setting up hospitals in locations where it already has an educational presence.