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Ab Dilli door nahi: Ranjan Pai is paying a hefty price for Medanta to break his northern jinx

  • After multiple unsuccessful attempts to break into the critical north Indian market, Manipal is placing a seemingly expensive bet on Medanta.
  • Manipal’s investors are nearing their exit windows, increasing the pressure on the company to deliver returns.
  • Other prominent hospital chains, including NH and HCG, have taken the same route in an industry struggling for growth.
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anujgupta
7 Jun 2019 6 Mins Read 0 comment
(From left) Ranjan Pai, CEO and MD, Manipal Education and Medical Group; Naresh Trehan, chairman and MD, Medanta
(From left) Ranjan Pai, CEO and MD, Manipal Education and Medical Group; Naresh Trehan, chairman and MD, Medanta
Ranjan Pai-led Manipal Hospitals is hungry for a deal. Last year, in his bid to build Manipal into India’s largest healthcare provider, Pai targeted Fortis, the second-largest hospital chain in the country. But he was outsmarted by an equally aggressive competitor — Ten See Leng, managing director and CEO of Malaysian giant IHH Healthcare Berhad. With Medanta, an
large number of beds compared to other Indian cities because it caters to entire north India. Patients in our Delhi hospitals come from Srinagar, western Uttar Pradesh, Uttarakhand, Himachal Pradesh, and Haryana.” If that trend continues, the outsize presence in Delhi-NCR post the Medanta acquisition might not be a bad outcome for Manipal. ( Graphics by Abdul Shafiq)
Ranjan Pai-led Manipal Hospitals is hungry for a deal. Last year, in his bid to build Manipal into India’s largest healthcare provider, Pai targeted Fortis, the second-largest hospital chain in the country. But he was outsmarted by an equally aggressive competitor — Ten See Leng, managing director and CEO of Malaysian giant IHH Healthcare Berhad. With Medanta, an large number of beds compared to other Indian cities because it caters to entire north India. Patients in our Delhi hospitals come from Srinagar, western Uttar Pradesh, Uttarakhand, Himachal Pradesh, and Haryana.” If that trend continues, the outsize presence in Delhi-NCR post the Medanta acquisition might not be a bad outcome for Manipal. ( Graphics by Abdul Shafiq)

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