Morgan Stanley to invest $20mn in Manipal arm

Morgan Stanley India Infrastructure (MSII) has committed an investment of about $20 million (Rs 145 crore) in Manipal Health Enterprise, the healthcare arm of Manipal Education and Medical Group, for an undisclosed stake. The tie-up involves an investment of $14 million (Rs 100 crore) in Healthmap, a Public Private Partnership for diagnostic imaging in Indian healthcare, a statement said. Dilip Jose, MD and Chief Executive, Manipal Health Enterprises, said: "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." He added millions are pushed deeper into poverty each year because of healthcare emergencies and costs and early diagnostic imaging can help them avoid such emergencies but the cost of the tests can be a deterrent. MHEPL is backed by private equity majors including Singapore′s Temasek and TPG.