MB's Take
Monthly DealTracker M&A and Greenfield & brownfield projects announced recently
Medical Buyer brings to its readers investment and expansion plans of various hospital and diagnostic center companies. These could be brownfield or greenfield investments. The mergers and acquisitions, and further investments planned by private equity majors are also compiled.
Launch plans announced from March 15, 2024 onwards
| Hospital | Place |
Project |
| Angelcure Research Hospital and Institute (ARHI) | Meghalaya | Inaugurated a 200-bed facility. |
| Apollo Spectra Hospitals and Apollo One | Karol Bagh, Delhi | Inaugurated a boutique hospital. |
| Aster DM Healthcare | Across 18 hospitals in the country | In planning stage, allocated ₹920 crore to add 1500 beds by 2027. |
| Ambasamudram Government Hospital | Tirunelveli, Tamil Nadu | Upgraded as district headquarters hospital , new facility added: 15 beds at a cost of ₹6.89 crore. |
| BP Poddar Hospital | Kolkata, West Bengal | Adding 200 beds to its existing hospital. |
| Brahmanand Hospital | Jamshedpur, Jharkhand | Inaugurated a 70-ward hospital. |
| Chandan Dayal Institute of Medical Sciences | Lucknow | 1500-bed hospital by 2025. |
| Chandan Hospital | Gomti Nagar, Lucknow | Expanding from 250 to to 350 beds and adding a cancer centre. |
| Command Hospital, Indian Army | Udhampur, Jammu and Kashmir | At a cost of ₹274 crore, a 650-bed hospital with provisions for additional 200 beds inaugurated. |
| Dr Kamakshi Memorial Hospital | Siruseri, Egattur,Tamil Nadu | Inaugurated an 80-bed facility. |
| District Hospital | Ludhiana, Punjab | At estimated cost of ₹20 crore, renovate and upgrade the district hospital. |
| Desun Hospital | Kolkata, West Bengal | Adding 200 beds to its existing hospital. |
| Fortis Hospitals | Delhi-NCR, Maharashtra, Karnataka, Punjab, and West Bengal | Fortis has recently commissioned a 70-bed hospital in Ludhiana and a 170-bed one in Greater Noida. It is adding beds in Fortis Memorial Research Institute, Gurugram; Fortis Hospital Shalimar Bagh, Delhi; Fortis Hospital Bannerghatta Road, Bengaluru; Fortis Noida; Fortis Mohali, Fortis Amritsar, and Fortis Kolkata. Fortis is acquiring strategic assets and expanding existing facilities. It will add 4,000 beds from inorganic expansion and 2,000 from brownfield expansion. And 10,000 beds within five to seven years. |
| Government Kilpauk Medical College Hospital | Chennai, Tamil Nadu | At a cost of ₹172.13 crore, additional tower block built , 468-bed facility, funding from Japan International Cooperation Agency (JICA). |
| Kandigaiperi Hospital | Tirunelveli, Tamil Nadu | An additional facility at an outlay of ₹38.95 crore inaugurated. |
| KK Shah Hospitals Ltd | Thandla, Dt Jhabua, Madhya Pradesh |
Inaugurated a multi-specialty hospital with 65-bed capacity. |
| Krishna Institute of Medical Sciences Limited (KIMS) | Thane, Maharashtra | In the planning stage, addition of 300 beds in 9-12 months. Project cost ₹500 crore. |
| Kalinga Hospital Ltd. | Bhubaneswar, Orissa | Inaugurated A3 Block, with an increase of 50 beds. |
| Kauvery Group of Hospitals | Vadapalani, Chennai, Tamil Nadu | Inaugurated a 250-bed quaternary care hospital. |
| Lilavati Hospital | Mumbai, Maharashtra | In association with the Spina Bifida Foundation, partnered with Poland’s Medical University of Silesia and inaugurated a fetal surgery department. |
| L&T TIL | Chinniampathi and Pallapalayam, Coimbatore | Inaugurated two health sub centres. |
| Lilavati Hospital | GIFT city, Gujarat | At an estimated ₹300 crore, setting up a 300-bed hospital by end-2025. |
| Lilavati Hospital and Research Centre | Bandra, Maharashtra | Planning to add 150-bed oncology block. |
| Lilavati Hospital | Dharamshala, Himachal Pradesh; Noida, Uttar Pradesh; Pune, Maharashtra; Bengaluru, Karnataka; and Guwahati, Assam | At a proposed ₹4000 crore, planning multi-speciality hospitals over next five years. |
| Max Healthcare Institute Limited | Shaheed Path, Lucknow, UP | Planning a 500-bed hospital. Also planning to to invest ₹5000 crore to double its bed capacity to 8000 beds over 4-5 years. |
| Medica Superspecialty Hospital | West Bengal and Jharkhand | Upgrading its existing hospitals in Siliguri and Ranchi. |
| Medica Superspecialty Hospital | Asansol and Rangapani, West Bengal | In the planning stage, setting up a cancer hospital Bengal. |
| Narayana Hospitals | Kolkata, West Bengal | Planning to establish a 1,000-bed superspeciality hospital as part of a mega-project in 2024. Also added 150-beds hospital in its Howrah hospital. |
| Odisha-4 teaching hospitals and 2 hospitals | Balangir, Baripada, Sundargarh, Keonjhar, and Balasore, Odisha, Cuttack, Berhampur, and Burla | At a project cost of ₹2000 crore, inaugurated 4 teaching hospitals:650-bed Bhima Bhoi Medical College and Hospital at Balangir, 650-bed Pandit Raghunath Murmu Medical College and Hospital at Baripada, 500-bed Government Medical College and Hospital at Sundargarh, 500-bed Dharni Dhar Medical College and Hospital at Keonjhar and Fakir Mohan Medical College and Hospital with 650 beds in Balasore. At an estimated project cost of ₹3400 crore, foundation stone laid for Acharya Harihar Postgraduate Cancer Research Institute at Cuttack, MKCG Medical College and Hospital at Berhampur, Rourkela Government Hospital (RGH) and Veer Surendra Sai Institute of Medical and Research (VIMSAR) in Burla. |
| Pulse Heart Super Specialty Hospital | Miyapuri, Hyderabad, Telangana | Inaugurated a 100-bed facility. |
| Primary Health Centers | Satara, Maharashtra | Upgrading its existing PHCs to Smart PHCs. |
| Ruby General Hospital | Kolkata, West Bengal | In the planning stage, the addition of 180 beds in 2024. |
| Sukoon Mental Healthcare Facility | Bengaluru, Karnataka | Inaugurated. |
| Sub District Hospital | Lohegaon, Pune, Maharashtra | Inaugurated a 100-bed hospital, at a project cost of ₹38.8 crore. |
| Sahara Hospital, now Max Superspeciality Hospital | Lucknow, Uttar Pradesh | Expanding by 300 more beds. |
| Secondary Care Hospital | Velampalayam, Tiruppur District, Tamil Nadu |
A 86-bed facility being completed, at a cost of ₹36.43 crore. |
| Sakra World Hospital | Banaswadi, Bengaluru, Karnataka | At an investment of ₹1000 crore, adding 500-bed unit by 2026. It is in collaboration between Secom Medical System, Japan and Toyota Tsusho, Japan. Additionally, a ₹1000 crore budgeted for a second hospital in Bengaluru by 2026. There are ongoing discussions regarding the establishment of a 300-bed third facility, at a potential investment range of ₹700 crore to ₹800 crore. |
| Vijayasree Memorial Cancer Hospital | Kothavalasa Mandal, Dt. Vizianagaram, AP |
Foundation stone laid, 100-bed cancer hospital. |
| Woodlands Multispecialty Hospital | Kolkata, West Bengal | Upgrade its existing hospital and adding 100 beds, complete project in two years. |
| Yashwantrao Chavan Memorial Hospital (YCM) | Pimpri-Chinchinwad, Maharashtra | In the planning stage. Setting up a super speciality hospital. |
Raising funds
|
Investor |
Amount |
|
Synapses, a deeptech fund to invest in climate and health startups launched. Are evaluationg 1,300 deeptech startups in climate and health who could be backed by the fund. |
₹1000 crore |
| Neuberg Diagnostics is in talks with potenetial investors to raise funds. O3 Capital is the investment banker. It plans to use the fresh capital to expand its radiology business through acquisitions. |
₹850 crore |
| Suraksha Diagnostic Pvt Ltd, a West Bengal-based diagnostic chain is planning to raise funds through an IPO to expand its diagnostic services. The diagnostic chain’s private equity investor, OrbiMed, holds a stake of close to 35 percent in Suraksha is likely to sell a large part of its stake through the IPO. ICICI Securities is advising the company. |
₹800 crore |
| Artemis Medicare Services Ltd has signed a defintive agreement with International Finance Corporation to approved raising funds in the form of CCDs. |
₹330 crore |
Acquisitions
|
Investor |
Amount |
| Blackstone Group is investing in India annually, that includes healthcare sector. |
₹17000 crore |
| Nephro Care India (NCIL), a Kolkata-based multi-specialty healthcare provider, has filed a DRHP with NSE Emerge to raise funds through an initial public offering. The IPO comprises a fresh issuance of 4,584,000 equity shares, each with a face value of ₹10. |
₹4584 crore |
| Lilavati Hospital group promoters are in talks with PE investors, pension funds and donors for its pan-India expansion plan. The strategy involves Both greenfield and brownfield hospitals, including setting up five to six multispecialty hospitals over the next five years. |
₹4000 crore |
| Warburg Pincus acquired a 65 percent stake in Appasamy Associates, Chennai. Is scouting for more healthcare deals in the country. |
₹2500 crore |
| Olympus Capital Asia plans to sell a 9.8 percent stake in Aster DM Healthcare, opens new tab for up to ₹1953 crore. The company owns about 19 percent stake in the hospital chain, and is planning the sale at ₹400-437.20 per share. The low end of the range represents an 8.5 percent discount to the Aster DM stock’s last close and no discount at the upper range. |
₹1953 crore |
| General Atlantic acquired a majority stake (70%) in Ujala Cygnus. |
₹1600 crore |
| Healthcare-focused venture capital fund HealthQuad has completed its exit from the Asian Institute of Nephrology and Urology (AINU), with a 4x return on its investment. The company is currently investing out of its second fund, a much larger one with a corpus of about ₹1400 crore. The firm’s investments include companies such as HealthifyMe, Medikabazaar, and AINU. |
₹1400 crore |
| Manipal Health Enterprises is finalizing a significant majority stake acquisition in Kolkata-based Medica Synergie Private Ltd. |
₹1400 crore |
| Regency Health has received an investment from Norwest Venture Partners for a super speciality hospital. Funding will drive its plan to increase the bed capacity to 2300 by 2027. By August 2024- A 250-bed facility in Gorakhpur; January 2025-a 450-bed unit in Kanpur; January 2026- A 350-bed unit in Varanasi; and by February 2027- A 375-bed unit in Lucknow. |
₹450 crore |
| ICICI Prudential Mutual Fund acquired 0.61 percent stake in Star Health and Allied Insurance Company. |
₹193 crore |
| The Center for Healthcare Entrepreneurship (CfHE), IIT Hyderabad will be undertaking a massive expansion in innovation in healthcare technologies, with a fund infusion of ₹80 crore from Sushant Kumar, founder, Tanushree Foundation and ESKEYN Ventures towards its efforts to achieve indigenisation of technology in this critical field. |
₹80 crore |
| Medulance has raised ₹25 crore in Series A funding led by Alkemi Growth Capital. |
₹25 crore |
| Hinduja Group, that includes Hinduja Healthcare is acquiring a stake in Invesco Asset Management. |
60 percent |
| The impending exit of PE investors in Agilus Diagnostics Ltd could lead to IHH Healthcare Bhd’s associate Fortis Healthcare Ltd increasing its interest in the diagnostics lab chain in India. | – |
| Gleneagles Healthcare India is scouting for acquisition of 250-300-bed hospitals in Mumbai, Chennai, Bengaluru and Hyderabad. | – |
