NewsVoir
Chennai (Tamil Nadu) [India], June 22: We are pleased to announce that Sri Kauvery Medical Care (India) Limited ("Kauvery Hospitals"), has successfully signed definitive agreements to acquire hospital business operations of Fortis Healthcare Limited at Vadapalani, Chennai.
Kauvery Hospitals, one of the leading hospital chains in South India, spearheaded by Dr. S Chandrakumar and Dr. S Manivannan, has built a strong foothold in its focus markets of Tamil Nadu and Karnataka over two decades and has emerged as one the leading hospital chains in South India. Established in 1999 as a 30-bedded hospital, it has scaled its presence to a network of 9 facilities comprising 2,000 beds spread across six cities viz. Chennai, Trichy, Bangalore, Salem, Hosur and Tirunelveli. The hospital network offers a high-quality comprehensive care across specialties with a strong focus on cardiology, oncology, neurology, renal sciences, orthopaedics, and organ transplants, amongst others.
With the acquisition of Vadapalani facility with 200+ beds in Chennai, Kauvery would have 750+ beds in Chennai together with its existing facilities at Alwarpet & Radial Road. This is in line with Kauvery's strategy to further expand its presence in Chennai and have more than 1,000+ beds in Chennai in the next 18 months.
"Kauvery is currently in the midst of a fast-paced expansion program, as it plans to reach 1,000 beds each by 2025 in Chennai, Bengaluru and Tamil Nadu clusters. This ramp-up would mean that the network shall comprise of 15 hospitals spread across 7 cities in South India, with 3,000+ beds and shall likely go for an IPO, in the next 36 months. With this acquisition of the facility at Vadapalani, Kauvery Hospitals shall be the 2nd largest Hospital chain in Chennai and continue to focus on strengthening its leadership position in our existing markets," Dr. Chandrakumar, Founder and Chairman of Kauvery Hospitals Group said.
"Kauvery Hospitals, with three hospitals in Chennai and 9 more Hospitals spread across 5 cities, we have established a strong presence in Tamilnadu and Bengaluru. This new acquisition will help us to provide care to the larger community covering all parts of the city. We will be launching 2 more hospitals in Trichy and Bengaluru respectively in this financial year as part of our focussed expansion drive. We will continue to provide best-in-class personalised care with the highest standards of clinical protocols and ethical practices," Dr. S Manivannan, Founder & Managing Director of Kauvery Group of Hospitals said.
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