MGM Healthcare Private Limited, a large healthcare and educational group, continues to expand its presence in South India by acquiring a 3.9-acre land parcel from Shriram Properties Limited (SPL) in Chennai, sources said. The deal value is ₹93 crore. Both companies declined to comment.
Shriram Properties, through its wholly-owned subsidiary SPL Shelters Private Limited, owned the 3.9-acre piece of land, which was approved to develop a retail space. The land parcel is located on GST Road. It is adjacent to a 4 million sq ft (MSF) office complex that is already fully operational and a 2 MSF residential complex (called Shriram Park 63), offering the potential for retail/other commercial development, according to a recent company release.
Fortis Malar Hospital
In November 2024, MGM Healthcare bought the Fortis Malar Hospital in Chennai for ₹128 crore. In July 2024, it acquired the 300-bed SevenHills Hospital in Visakhapatnam for ₹171 crore. This was done as part of the corporate insolvency resolution process of SevenHills Hospital.
MGM Healthcare currently operates four hospitals with a combined bed capacity of 1,000 beds. It is one of the largest operators of medical colleges in Pondicherry and the Tamil Nadu region. It operates two medical colleges, four allied health and nursing colleges and six schools with 10,000-plus students.