Pai is strengthening Manipal Hospitals' presence across the country with a string of acquisitions, with eyes on becoming a market leader and taking his venture public to power the next phase of growth
Ranjan Pai is in a hurry, even though he likes to say otherwise. In a year when India’s overburdened health care ecosystem had been stretched thin, Pai, the canny businessman and grandson of the illustrious Tonse Madhava Ananth Pai, founder of Manipal Hospitals, has been busy fortifying plans to take his family’s crown jewel on a rather ambitious journey. And at the centre of it lies a penchant for acquisitions.
In just one year, Pai’s Manipal Health Enterprises Private Limited (MHEPL) has completed the acquisition of two hospital groups and is in the middle of closing another one, worth a combined ₹4,000 crore, at a time when numerous hospitals across India have shut down due to the financial turmoil caused by Covid-19.
(This story appears in the 06 May, 2022 issue of Forbes India. To visit our Archives, click here.)