India's NIIFL invests $286.26m in Manipal Hospitals

This marks its direct private equity fund’s first investment in India’s healthcare sector.

India’s National Investment and Infrastructure Fund (NIIFL) has invested $286.26m (INR 2,100 crore) in Manipal Hospitals through its NIIF Strategic Opportunities Fund (SOF), the direct private equity fund of NIIF, according to a press release.

This investment marks SOF’s first investment in the country’s healthcare sector. The transaction has been signed by both parties and the closing of the transaction is still subject to receipt of certain approvals.

Manipal Hospitals, headquartered in Bengaluru, Karnataka, owns 15 hospitals across India and has a key focus on tertiary and quaternary care. It has recently acquired hospital chain Columbia Asia Hospitals.