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  •   Sun, Sep 16 2007 04:00:36 PM

Agency report

Mangalore, Sep 16: The Manipal Education & Medical Group is close to acquiring a medical college in the Caribbean Islands for $200 million, reports The Times of India.

It is a 35-year old medical college and has 3,000 students. Interestingly, a 30 per cent of the students and many of the faculty members are Indians.

In fact, Caribbean Islands have become an alternative destination to countries like Russia and China for Indian (mainly NRI) medical aspirants.

Manipal already owns a medical college in Antigua (West Indies), which was a greenfield project. It has 1,000 students.

Manipal, which plans to invest about $250 million to fund it organic and inorganic growth requirements, is also believed to be in talks with private equity funds for capital infusion. According to TOI, the company wants to raise about $100 million (Rs 400 crore) from PE funds.

TOI also reports, quoting the group CEO Ranjan Pai, that the company is looking to buy niche online training content providers in the US, Europe, and Asia. The 53-year old Manipal Group is the largest private education group in India with presence in medical, managament and engineering education. It had revenues of Rs 1,300 crore ($325 million) in 2006.
  

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Comment on this article

  • Max & Jessie Rasquinha, Mangalore /Houston, T x

    Mon, Sep 17 2007

    This is indeed another "step forward" for the Indian expertise in the field of medicine to involve in the Medical College in the Caribbean. Those who are still skeptical about the "globolization" movement will find Manipal Group most successful in their medical venture in the Caribbean and will create a new awareness of the spirit of "Internationalism" that will bring so much of goodwill between India and the far distant land of Caribbean where the quality of medical facility still needs to be upgraded.

    Mangalore and Manipal will appear in the headlines in the Caribbean lands and our best wishes go out to all those that have masterminded this unique project.

    DisAgree Agree Reply Report Abuse


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