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.