CARE Hospitals to acquire majority stake in Maharashtra hospital

Our Bureau | | Updated on: Jul 29, 2022
Sources in the healthcare industry have put the deal size in the range of ₹300-400 crore

Sources in the healthcare industry have put the deal size in the range of ₹300-400 crore

The deal size is pegged in the range of ₹300-400 crore

The CARE Hospitals Group, an arm of the TPG Growth managed Evercare Fund, has said it is going to acquire a majority stake in the United CIIGMA Hospitals group based out of Aurangabad in Maharashtra.

The target company specialises in oncology, gastroenterology, cardiology and robotic surgeries. This investment will help the Hyderabad-based company get access to three cities in Maharashtra.

Sources in the healthcare industry have put the deal size in the range of ₹300-400 crore.

“The addition of this institution adds clinical depth and scale to our presence in Maharashtra and takes forward our focus on expanding the network in tier-2 cities of the country,” Jasdeep Singh, Group Chief Executive Officer of CARE Hospitals, said in a statement.

“The fast growing tier-2 cities have a current demand supply gap of 50,000 beds. This is expected to grow to 1.10 lakh beds in the next five years,” Vishal Bali, Chairman of CARE Hospitals, said.

“Creating the right partnerships with leading providers in these regions and building scale in their ecosystems by adding clinical specialities and bed capacity is a priority for the group,” he said.

The 25-year-old group operates 17 healthcare facilities in eight cities in six States, with an aggregate of 2,700 beds.

Published on July 29, 2022
COMMENTS
  1. Comments will be moderated by The Hindu BusinessLine editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like

Recommended for you