Hyderabad-based Krishna Institute of Medical Sciences (KIMS) hospital chain, which received $130 million in investment from global growth equity firm General Atlantic in 2018, is set to pick up a majority stake in Sunshine multi-speciality hospital, also in the city.
“The deal is in an advanced stage and the details are being worked out,” said a source in the know.
Protracted negotiations
Talks have been on for quite some time now. The coming together of the two groups will considerably widen the speciality base of healthcare in Hyderabad.
However, the issue of integration into KIMS or retaining the brand of Sunshine, which has also established its identity, is being discussed by the top managements of the two hospitals, sources said.
Interestingly, noted orthopaedic surgeon AV Guruva Reddy, whose entrepreneurial venture is the Sunshine Hospitals (established in 2009) was also the founder Director of KIMS during 2004-09. In a way, it will be a homecoming too.
Set up in 2004 by Bhaskar Rao, noted cardiothoracic surgion, KIMS has been striving for rapid expansion since the infusion of funds from General Atlantic in the form of acquiring significant minority stake. It set up a 434-bed hospital in Visakhapatnam in August 2018.