CARE Hospitals acquires CHL Hospitals

Established in 2001, Convenient Hospitals (CHL) has a capacity of 250 beds and is adding another 150 beds, CARE Hospitals said in a statement. . While the financial terms were not disclosed, people in the know said the deal has valued CHL at ₹350-400 crore.

CARE Hospitals Group, a TPG Growth managed Evercare Fund portfolio company, has forayed into Madhya Pradesh by acquiring the Indore-based CHL Hospitals.

“We welcome CHL Hospitals to the CARE Hospitals network, and are excited by the potential to create greater accessibility to high-end clinical care for patients in Central India,” said Jasdeep Singh, Group Chief Executive Officer of CARE Hospitals.

“With the new transition, our teams are looking to support CARE Hospitals in its endeavour to scale up CHL Hospitals in Central India,” said Rajesh Bhargava, Chairman & Managing Director of CHL Hospitals.

The 21-year-old Convenient Hospitals Ltd (CHL) is the first corporate hospital in the central region. It specialises in cardiology/ cardiac surgery, neuro sciences, gastro-intestinal, liver and renal care.

CARE Hospitals, a 25-year-old hospital with 2,400 beds in six states, has about 1,200 doctors in various specialities.

“This partnership with CHL consolidates our presence further in a key geography ,” said Jasdeep Singh in a statement on Monday.

Mr. Rajesh Bhargava, Chairman & Managing Director of CHL Hospitals said, "We welcome CARE Hospitals to take the lead in growing CHL Hospitals in Indore and other parts of the state. For the past 21 years the clinical team at CHL across specialties has been delivering exceptional care and has gained multiple recognitions. With the new transition our teams are looking forth to supporting CARE Hospitals in its endeavour to scale up CHL Hospitals in Central India."

Mr. Vishal Bali, Chairman, CARE Hospitals, added, "India's future growth trajectory and aspiration of a USD 5 trillion economy will be routed through the rise of Tier 2 cities. These cities will also contribute significantly to the rise in healthcare consumption and power the next phase of growth for the healthcare sector. CARE Hospitals through its deep presence in some of the fastest growing tier 2 cities in the country is well poised to play a critical role in advancing patient care in these regions and will continue to consolidate its presence in these markets."

The announcement also coincides with CARE Hospitals' momentous milestone of completing 25 years with a strong legacy of clinical excellence with many firsts to its credit including developing India's first indigenous Coronary Stent, being the first Indian hospital to perform Heart Surgery on a Foetus and has done more than 1000 stapedotomy (to treat hearing loss) done by a single surgeon, that became 2nd largest study in the World recognized by Cambridge University.

Tags : #Convenienthospitals #financialterms #carehospitals #healthcare #CHLHospitals #medicircle #smitakumar

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

FTCCI with support from the Ministry of MSME, Govt of Inia to host an International Conference on Shipping and Logistics at HICC on 22nd MarchMarch 18, 2024
Rotary donates Upgraded Neonatal ICU at Niloufer Hospital worth Rs 48 LakhsMarch 18, 2024
Fateh Education shares insight into Financial strategies and Post-Study employment goals of students aspiring to study abroadMarch 18, 2024
Empowering Communities: We Care Foundation Hosts 3rd Edition of I - Inspiration Awards, Championing Health, Finance, and Cyber WellnessMarch 18, 2024
Safeguarding Spectators: Medulance Partners with Zomato Live for On-site Medical Assistance at ZomalandMarch 18, 2024
Unsung hero, Chindu Yakshaganam theatre artist, Padma Shri Gaddam Sammaiah graced the 17th Annual Day of Anurag UniversityMarch 18, 2024
Multidisciplinary Approach at Citizens Specialty Hospital Saved 35-year-old Patient with Disc Prolapse following a recent Heart AttackMarch 18, 2024
Asia Pacific region’s First Patellofemoral Joint surgery is successful in India.March 18, 2024
FDA Greenlights Lupin's Varenicline Tablets: A Game-Changer in Smoking Cessation TherapyMarch 18, 2024
Deciphering STAP-1: A Promising Target for Immune-Related DiseasesMarch 18, 2024
The Gut-Brain Connection: How Gut Bacteria Shape Immunity and Prevent Allergic Reactions in NewbornsMarch 18, 2024
IIIT Hyderabad’s Annual R&D Showcase beginsMarch 16, 2024
Exploring New Horizons: The Role of Copper and Resveratrol in Cancer CareMarch 16, 2024
Expanding Healthcare Infrastructure: Delhi’s Ambitious EndeavourMarch 16, 2024
FTCCI's Tourism Committee brands cab drivers as ambassadors for tourism and trains 200 cab drivers at GMR Airport in Etiquette, Hygiene, First Aid, CPR and the English languageMarch 16, 2024
Musing of a Teenage Girl, a poetry book authored by a 14 years girl Sanjana Somavarapu releasedMarch 16, 2024
5th Edition FTCCI HR Awards 2023 Presented for best practices in people processesMarch 15, 2024
FTCCI Delegation visits T-WorksMarch 15, 2024
Debunking Myths: ICMR Study Disproves COVID Vaccine Link to Sudden DeathsMarch 15, 2024
Beware of Rhodamine-B: Several States in India Implement Ban on Artificial Food Coloring AgentsMarch 15, 2024