Introduction
The story of Sahyadri Hospitals is a testament to visionary leadership and strategic growth in the Indian healthcare sector. What began as a small, specialized clinic in Pune has evolved into one of Maharashtra’s largest hospital chains, recently culminating in a landmark acquisition by Manipal Health Enterprises.
The Visionary Founder
The journey began with Dr. Charudatta Apte, a renowned neurosurgeon in Pune. In the 1990s, recognizing the critical need for specialized neurological care in Maharashtra, he joined forces with Dr. Nitin Desai and Dr. Sadanand Bapat. Their collective vision led to the establishment of the Pune Institute of Neurology in 1994, a focused 16-bed facility dedicated to neurosurgery.
Rapid Expansion and Growth
The institute’s success laid the groundwork for a broader vision. In November 2004, the facility was rebranded as Sahyadri Hospital and expanded its services to become a multi-specialty care center. This marked the beginning of a period of rapid expansion across Pune, with new branches opening in strategic locations like Nagar Road, Hadapsar, Bibwewadi, Kothrud, and Kasba Peth.
A pivotal moment came in 2007 when Sahyadri Hospitals secured its first investment of ₹53 crore from ICICI Venture. This funding was instrumental in increasing its bed capacity and upgrading its infrastructure, fueling further expansion. The hospital chain extended its footprint beyond Pune, establishing facilities in Karad in 2009 and Nashik in 2014.
Significant Acquisitions
Sahyadri Hospitals’ growth trajectory attracted significant interest from major investment firms. In 2019, the Singapore-based private equity firm Everstone Capital acquired a majority stake for approximately ₹1,000 crore. This was followed by another major transaction in August 2022, when the Ontario Teachers’ Pension Plan (OTPP), Canada’s largest pension fund, acquired Everstone’s stake for around ₹2,500 crore.
The most recent and significant development occurred on July 10, 2023, when Manipal Health Enterprises acquired the entire Sahyadri Hospitals chain for a staggering ₹6,400 crore.
A Legacy of Care and Future Endeavors
Today, Sahyadri Hospitals boasts a capacity of over 1,300 beds and is supported by more than 2,500 doctors and 3,500 support staff. The acquisition by Manipal is expected to leverage Sahyadri’s strong presence in Maharashtra and help the brand expand its healthcare services across India. This acquisition not only marks a new chapter for Sahyadri but also highlights the brand’s enduring legacy and its future potential to provide quality healthcare on a national scale.