Manipal Hospitals set to acquire Columbia Asia Hospitals for Rs 2,100 crore

News Network
November 2, 2020

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Bengaluru, Nov 2: Manipal Hospitals on Monday announced its intent to acquire 100 per cent stake in Columbia Asia Hospitals Private Limited (Columbia Asia).

Manipal Hospitals said the acquisition offers it a "remarkable geographical and cultural fit" and provides a larger national footprint.

Together, the combined entity will have 27 hospitals across 15 cities with 7,200-plus beds, and a pool of 4,000- plus doctors and 10,000-plus employees, it said in a statement.

The deal is valued at ₹2,100 crore, as per market sources. This makes Manipal Hospitals, the nation’s second largest healthcare chain, after Apollo Hospitals.

Treating over four million patients annually, it would rank amongst the largest healthcare provider networks in the country, it said.

Dr Ranjan Pai, Chairman, Manipal Education and Medical Group, said, "Columbia Asia makes a compelling strategic fit to our core values of clinical excellence, patient centricity and ethical practices, and will help us advance our commitment to provide outstanding patient care."

Columbia Asia Hospitals commenced operations in India in 2005 in Hebbal, Bengaluru and presently operates 11 hospitals across the country in Bengaluru, Mysuru, Kolkata, Gurugram, Ghaziabad, Patiala and Pune.

The network comprises over 1,300 beds, 1,200 clinicians and 4,000 employees, it said.

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News Network
September 17,2024

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As the Modi-led NDA government completes the first 100 days of its third term, the Congress party has launched a scathing attack, dubbing it as the "U-Turn Sarkar" for its failures and policy reversals.

At a press conference in Delhi, Congress spokesperson Supriya Shrinate highlighted what she called "100 days of instability, indecisiveness, and immaturity," accusing the Modi government of damaging critical sectors of the economy and public infrastructure.

Shrinate criticised the government's handling of the economy, which she described as being in "dire straits".

She argued that under Modi's leadership, sectors such as agriculture, youth employment, and infrastructure have been neglected. "These 100 days have been very heavy on the country's economy, farmers, youth, women, infrastructure, railways, and institutions," she said, adding "It has become clear that Narendra Modi has no vision to deal with the country's problems."

She went on to debunk the government's claims of progress in infrastructure development, citing multiple instances of structural failures in key projects.

“The airports inaugurated by Narendra Modi--from Jabalpur to Delhi and Rajkot--could not even withstand a single monsoon,” Shrinate pointed out. She also referenced failures such as:

•    Atal setu: Constructed at a cost of Rs18,000 crore, the bridge developed cracks soon after its inauguration.

•    Sudarshan setu in Gujarat: Opened in February 2024, it also developed cracks within months.

•    Shivaji statue collapse: The iconic statue of Chhatrapati Shivaji Maharaj was destroyed within eight months of being unveiled, an event Shrinate described as an "insult to Shivaji Maharaj."

•    Ram mandir water leakage: The sanctum sanctorum of the Ram Mandir, a symbol of faith for millions, was found to be leaking during the monsoon.

•    "Who will take accountability for these incidents?" Shrinate asked, questioning the government's competency in executing large-scale projects.

•    On railway safety, Shrinate accused the government of overseeing a period marked by frequent accidents and derailments.

•    "There have been 38 railway accidents in 100 days, resulting in 21 deaths," she stated. Despite the public outrage following the tragic Balasore accident, which killed nearly 300 people earlier this year, the Congress spokesperson said that the government has failed to take effective measures to improve rail safety.

•    She criticised the slow implementation of Kavach, an anti-collision device, stating, “The reality is that even after 21 deaths, Kavach is being installed at a pace of 2 km per year, while the Railway Minister shamelessly calls these 'minor' incidents.” Shrinate’s remarks come amidst mounting public concern over the Modi government’s inability to secure rail travel in one of the world’s largest railway networks.

In addition to infrastructure and safety concerns, Shrinate accused the Modi government of making hasty policy decisions, only to later backtrack under public pressure. "If any of your decisions affect the country negatively, it won’t become law because the government will take a U-turn on it," she said. Among the key policy reversals Shrinate cited were:

•    Lateral entry: A controversial policy of hiring private-sector professionals for bureaucratic roles, which was quietly shelved.

•    Broadcast Bill: Withdrawn after fierce opposition, highlighting the government's poor handling of policy legislation.

•    Waqf Board Bill: Another example of the government's failure to gauge the impact of its decisions.

•    NPS to UPS: Indexation policy changes that were hastily reversed after protests from key stakeholders.

"Narendra Modi's first 100 days symbolise not just U-turns, but a government that is fundamentally unsure of its direction," Shrinate remarked.

"In 100 days, 104 heinous crimes have been committed against women, in which there are 157 victims. Women are raped publicly in BJP ruled states but Narendra Modi doesn't say a word on this. But how will you speak, because you are the one who stood with those who sexually exploited the daughters of the country," she added.

The Congress's sharp critique of the Modi government's first 100 days has set the tone for the coming months, as the opposition gears up for a series of state elections and prepares for the 2024 general election.

"The country cannot afford this level of instability, immaturity, and incompetence," Shrinate concluded, calling on citizens to hold the Modi government accountable for what she described as its "endless U-turns and policy failures."

In these 100 days, Congress has made clear that it will focus on highlighting the government’s missteps in the economy, public safety, and governance, presenting itself as a viable alternative in the face of what it calls "a government in retreat."

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News Network
September 24,2024

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Mangaluru, Sept 24: A blanket of gloom descended over Dakshina Kannada and Udupi as heavy rains battered the coastal Karnataka districts on Tuesday. Substantial rainfall has been drenching the region since Monday, intensifying as the day progressed.

In Dakshina Kannada, torrential downpours began early Tuesday, followed by overcast skies and humid conditions. 

The showers persisted intermittently through the afternoon, with areas like Beltangady experiencing moderate rainfall, while Puttur and Bellare bore the brunt of heavier storms. 

Overnight showers were reported in Bantwal, and Mangaluru city, along with its surrounding rural areas, witnessed a steady increase in rainfall, peaking by the evening.

After a brief respite, the return of intense rainfall has brought a welcome drop in temperatures. In Udupi, Karkala, Udupi city, Kundapur, and Hebri taluks all faced substantial rains throughout the day, continuing from late Sunday night.

The Indian Meteorological Department (IMD) has issued a red alert for the coastal districts, predicting more heavy rainfall in the coming hours. 

A yellow alert has been placed for Wednesday, signaling the likelihood of additional downpours. Fishermen have been cautioned to remain vigilant, as the possibility of strong winds looms over the coastal waters.

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News Network
September 24,2024

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The Karnataka High Court on Tuesday dismissed the petition filed by Chief Minister Siddaramaiah against Governor Thawarchand Gehlot's decision to sanction the complaint and investigation against him in the alleged Mysore Urban Development Authority (MUDA) scam case.

Justice M Nagaprasanna said the facts narrated in the petition would undoubtedly require an investigation.

The court has also said that the Governor's order approving sanction to investigate against Siddaramaiah under section 17A of the Prevention of Corruption Act does not suffer from application of mind, instead has abundance of application of mind.

Meanwhile, the court rejected the request made by senior advocate Abhishek Singhvi to stay the order of the court. The court has vacated the interim order passed on August 19. In the interim order the trial court was directed not to take any precipitative action against Siddaramaiah. On August 17, Governor had approved sanction under section 17 A  of the Prevention of Corruption Act and Section 218 of Bharatiya Nagarik Suraksha Sanhita ( BNSS), citing three applications.

The court said the private complainants were justified in registering the complaint and seeking approval from the governor.

Insofar as private complainants seeking sanction under section 17A, the court said the provision nowhere requires only a police officer to seek sanction from a competent authority. The court further said it is in fact the duty of the private complainants to seek such approval.

Earlier, The High Court had completed its hearing in the case on September 12, and reserved its orders. It had also directed a special court in Bengaluru to defer further proceedings and not to take any precipitative action against the Chief Minister.

The case pertains to allegations that compensatory sites were allotted to Siddaramaiah's wife B M Parvathi in an upmarket area in Mysuru that had higher property value as compared to the location of her land that had been "acquired" by MUDA.

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