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IHH Healthcare To Take Over Mumbai’s Iconic Jaslok Hospital

IHH Healthcare Berhad will soon take over Jaslok, one of Mumbai’s oldest hospitals in an operations management deal. IHH bought acquired a 31 percent stake in Fortis Healthcare in 2018 and pumped in Rs 4,000 crore in the firm.

Sources told Mumbai Mirror that the agreement was arrived at after many rounds of negotiation between the management of Jaslok and IHH. Jaslok’s chief trustee NG Chanrai met with Tan See Leng, MD and CEO of IHH Healthcare.

Other healthcare firms from India and overseas, including KKR-backed Radiant Life Care, were interested in Jaslok but none of the deals worked out. Radiant had entered a profit-sharing agreement with Mumbai’s Nanavati Hospital in 2014, like IHH’s deal with Jaslok.

Jaslok was set up in 1973 by Seth Lokoomal Chanrai and was inaugurated by the then Prime Minister Indira Gandhi. The name Jaslok is a combination of the names of Seth Lokoomal and his wife, Jasotibai. The hospital, one of the oldest tertiary care hospitals in Mumbai, has over 350 beds. It is now known as Jaslok Hospital and Research Centre.
Jaslok will complete 50 years in 2023, before which the management plans to renovate the building. – Money Control

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