Manipal Health Systems raises Rs 900 million from IDFC

Bangalore, Jun 28 (UNI) Manipal Health Systems Private Limited has raised Rs 900 million of equity from IFDC Private Equity Fund II, a fund managed by IDFC Private Equity, to expand its network.

''The Manipal Education and Medical Group has focused on the health sector for over 50 years. We are pleased to have the largest infrastructure private equity investor in India as our partner to help us expand our network,'' Manipal Health Systems Director Ranjan Pai said in a release here today.

Manipal Health Systems, promoted by the Manipal Education and Medical Group, leading providers of medical and education services in the country, currently managed three 3 tertiary care hospitals, eight secondary care hospitals and nine primary care centre in South India, including the leading Manipal Hospital in Bangalore.

The company intended to leverage its experience and expertise to develop a strong presence across the country through both organic and inorganic growth.

''This investment by IDFC will help us reach our growth plans even faster. We are expanding beyond the South and looking at setting up facilites in centres like Delhi and Mumbai, the release said, quoting Manipal Health Systems CEO R Basil.

UNI RG SBA HT1922