Ahmedabad-based CIMS Hospital is believed to have sold off 80% of its stake to raise Rs 500 crore. The private equity placement values the hospital at over Rs 600 crore.
A highly-placed source in the CIMS Hospital told Mirror, “A European fund has bought around 80 per cent stake for about Rs 500 crore. The fund has estimated the value of the hospital at Rs 600 crore.”
This source added, “The funds raised will be used to go national by tying up with well-established hospitals in India and provide state-of-the-art healthcare facilities.
The funds will also be used to take over four to five hospitals in Gujarat.”
Care Institute of Medical Sciences (CIMS) Hospital in the Science City area is a 350-bed multi-super specialty hospital, providing a range of diagnostic and treatment services.
Founding Partner and Director of CIMS Hospital Dr Anish Chandarana denied the deal had taken place.
He told Mirror on Monday, “There may be buzz of CIMS Hospital being sold off but let me tell you that no deal has happened as of today. Being a reputed hospital, we are routinely approached by international groups from Singapore, Japan, America and Europe for tie-ups, acquisition or merger.”
When asked about the expansion plans of the hospital, Dr Chandarana said they were looking forward to taking the CIMS brand national.
This is likely to be achieved by taking over hospitals in Gujarat and other states.
“CIMS Hospital is a leading heart hospital in Ahmedabad, Gujarat. It offers the highest quality services and treatment for most diseases and medical problems with one of the highest success rates in India,” a hospital source said.
The hospital’s website claims to offer the most well-equipped and modern CATH LABS in India and considers itself at par with medical facilities provided in the USA
and UK. Ahmedabad Mirror