IHH Healthcare Berhad, the private equity firm from Malaysia, has announced the acquisition of 73.4 per cent stake in Hyderabad-based Global Hospitals, which was founded by K. Ravindranath, by investing Rs. 1,280 crore.
Global Hospitals operates a chain of five hospitals with close to 1,100 operational beds in Hyderabad, Chennai and Mumbai.
Number of beds
to be increased
According to a statement, the number of operational beds is expected to be ramped up to approximately 1,900 beds and in an attempt to better leverage brand equity and coordinate branding efforts, IHH plans to consolidate all of Global Hospitals’ facilities under its ‘Gleneagles’ brand.
“We are delighted to join the IHH family, which shares our commitment to ensuring superior clinical outcomes for our patients. With IHH’s international experience and best-in-class know-how, and our growth potential, we look forward to our enhanced ability to meet better the healthcare needs of Indians as well as international medical travellers,” said Founder and Chairman, Global Hospitals, Dr. K. Ravindranath.
MD and CEO of IHH, Dr. Tan See Leng, welcomed the development.
Game-changer
“This will be a game-changer for IHH in India. Together with our existing hospitals, the acquisition of Global Hospitals catapults us towards becoming one of the leading healthcare providers in India,” he said.
According to IHH, pending necessary approvals and satisfaction of certain conditions, the deal is expected to close within three months.
We look forward to our enhanced ability to meet better the healthcare needs of Indians and travellers
K. Ravindranath
Founder and Chairman, Global Hospitals
