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MSII to invest Rs 1 billion in HealthMaP Diagnostics

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HealthMaP is a PPP initiative for diagnostic imaging in Indian healthcare

Manipal Health Enterprise (MHEPL), the healthcare arm of Manipal Education and Medical Group, has announced an Rs 1.45 billion equity commitment from Morgan Stanley India Infrastructure (MSII) in HealthMaP Diagnostics (HealthMaP), a wholly-owned subsidiary of MHEPL. MSII will make an initial investment of Rs 1 billion in HealthMaP. HealthMaP is a Public Private Partnership (PPP) initiative for diagnostic imaging in Indian healthcare.

HealthMaP is addressing an enormous shortage in affordable diagnostic imaging services throughout India by partnering with state-owned hospitals that serve over 500 million Indians. Set up in 2015, HealthMaP has concessions to operate 37 imaging centres across the states of Haryana and Jharkhand, of which 30 are already operational.

“HealthMaP has been at the forefront of making quality diagnostic imaging available to the masses and we are proud to play a role in advancing affordable healthcare in India. With the introduction of universal healthcare in the country through the Ayushman Bharat programme, HealthMap is also exploring the opportunity to partner with private hospitals to set up facilities for diagnostics and treatment of cardiac ailments as well as cancer, and to increase access for patients especially in the underserved States,” said Dilip Jose, Managing Director and CEO, Manipal Health Enterprises.

“We are delighted to partner with MHEPL and the Manipal Group at an inflection point in the affordable healthcare revolution in our country as underscored by the recent launch of the world’s largest universal healthcare coverage programme. This creates vast opportunities for HealthMaP and, combined with MHEPL’s reputation for clinical excellence, positions HealthMaP as one of India’s leading affordable healthcare platforms,” said Raja Parthasarathy, a Managing Director with Morgan Stanley India Infrastructure.

“We are excited with the confidence reposed by the shareholders in HealthMaP. The public private partnership is a huge opportunity in diagnostic and other healthcare models. Quality of service is our credo and we endeavour to deliver the best diagnostic at affordable cost to the masses”, said Niraj Arora, CEO, HealthMaP Diagnostics.

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