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Six hospitals under Gleneagles Healthcare India (GHI) will sport the name Gleneagles Hospitals, a signature international brand of IHH Healthcare.
GHI said this was part of its rebranding initiative across its six hospitals, in Mumbai, Chennai, Bengaluru, and Hyderabad.
Last August, Malaysia’s IHH Healthcare Berhad said it had mopped up the remaining stake in Ravindranath GE Medical Associates Pvt Ltd (RGE) for about ₹740 crore, a move that would allow it to get on with growth in the country, top brass with IHH Healthcare India, had then told businessline. While IHH has seven brands internationally, the management said they would presently operate under the Gleneagles and Parkway brands.
IHH has been in the spotlight over its acquisition of the Fortis Hospitals chain, in which it holds 31 per cent stake. In 2018, IHH Healthcare won the bid for Fortis in a long-fought battle, in a transaction that was not without its hurdles, due to legacy issues involving Fortis’ erstwhile promoters, the Singh brothers, and their former transaction with Daiichi Sankyo involving erstwhile drugmaker Ranbaxy.
Meanwhile, a note from GHI said it had become part of IHH in 2015, through a majority stake acquisition. “Gleneagles Healthcare India witnessed further investment and growth in August last year with IHH increasing its stake to almost 100 per cent in the India hospital chain,” the note added. GHI has over 1,500 beds across its facilities.
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