Milbank LLP is acting as international legal counsel for Manipal Hospitals Enterprises Private Ltd (“Manipal Hospitals”) and its promoters in connection with Temasek’s acquisition of a significant stake in Manipal Health, which also involves a partial exit to TPG and a full exit to National Investment and Infrastructure Fund - II.
This transaction is the largest private equity deal in the healthcare sector in India.
Manipal Hospitals is one of the largest healthcare providers in India, serving over five million patients annually with a network of 29 hospitals across 16 cities. Milbank previously advised Columbia Pacific on its sale of a number of hospitals across Asia, including its India-based hospitals, to Manipal Health in 2021.
Mr. David H. Zemans, Managing Partner of Milbank’s Asia practice said: “We are honored to represent Manipal on this very significant transaction. This is another prime example of Milbank’s market leading M&A practice in Asia.”
The Milbank team was led by David H. Zemans and included associates Martin Wong and Stephanie Kam. Milbank worked closely with Trilegal who was Indian legal counsel to Manipal Hospitals on this transaction.
