CARE Hospitals takes majority control in United CIIGMA Hospitals, Aurangabad

Hyderabad-based CARE Hospitals Group, an asset of TPG Growth managed Evercare Fund, and one of the largest hospital networks in India, today announced the expansion of their network in Maharashtra region through a strategic partnership with Aurangabad-based United CIIGMA Hospitals.

Through this investment, CARE Hospitals will have a majority stake in United CIIGMA Hospitals and will be present across 3 cities in the state. The CARE Hospitals network spans 17 healthcare facilities in 8 cities and 6 states of the country.

CARE Hospitals was instituted in 1997 as a single speciality Cardiac Hospital in Hyderabad with 100 beds & 20 cardiologists. Since then, the group has evolved exponentially to become India’s leading multi-speciality hospital network with a focus on tier 2 cities offering 30 clinical specialities, 60% of the network’s capacity is based in high-growth tier 2 cities of the country.

The Aurangabad based 300 bedded United CIIGMA Hospitals is an accomplished super speciality tertiary care hospital which has over the last decade become a centre of excellence in the Marathwada region of Maharashtra. The hospital specializes in Oncology, Gastroenterology, and Cardiology and is the first in the region to provide robotic surgeries.

On the announcement of this strategic partnership, Jasdeep Singh, Group CEO, CARE Hospitals said, “We are delighted to welcome United CIIGMA Hospitals to the CARE Hospitals network. The addition of this institution adds tremendous clinical depth and scale to our presence in Maharashtra and takes forward our focus on expanding the network in tier 2 cities of the country and creating faster accessibility of high-quality tertiary care to patients in these markets.”

Speaking about the partnership, Dr. Unmesh Takalkar, Chief Managing Director said, “United CIIGMA Hospitals has been delivering high-quality healthcare with a patient-first approach in the Marathwada region for over a decade. With this partnership, our combined efforts with CARE Hospitals will allow us to scale up through better quality, newer and high-end specialities and make quality healthcare accessible to all our patients across Marathwada and beyond”.

Vishal Bali, Chairman, CARE Hospitals said, “The fast-growing tier 2 cities in the country have a current demand-supply gap of 50,000 beds which is likely to expand to 110,000 beds in the next 5 years. These cities represent the next phase of growth as consumers aspire for better healthcare services and CARE Hospitals is very well positioned to consolidate and grow in these cities with its vintage and clinical acumen. Creating the right partnerships with leading providers in these regions and building scale in their ecosystems by adding clinical specialities and bed capacity is a priority for the group. GDP growth in some of these tier 2 cities is pushing faster than the national average.”

With a highly talented team of more than 1400+ doctors across the network and over 6600+ employees, the CARE Hospitals Group treats millions of patients every year. Over the last 25 years, the group has established its dominance as a leader in Cardiac Sciences, Oncology, Neurosciences, Renal Sciences, Gastroenterology & Hepatology, Orthopaedics & Joint Replacement, ENT, Vascular Surgery, and Integrated Organ Transplants. The hospital has a strong legacy 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 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.