Manipal Hospitals completed the acquisition of Vikram Hospital from Mutiples for c.$50m. Multiples PE’s decision to exit may have been necessitated by the lifeline of its maiden fund, which was raised in 2011. The PE firm had invested in Vikram Hospital from this fund. PE funds typically have a lifecycle of 10 years. This may be extended by one-two years to make way for pending exits. For Manipal, the acquisition of Vikram Hospital would add muscle to its operations in Bengaluru. It already has nine other assets in the city.