CARE Hospitals Acquires Indore-based CHL Hospitals

Telangana: Hyderabad-based CARE Hospitals Group an asset of TPG Growth managed Evercare Fund and one of the largest hospital networks in India today announced its entry into the Madhya Pradesh region through the acquisition of Indore-based CHL Hospitals.

Established in 2001, Convenient Hospitals Ltd. (CHL) was the first corporate hospital established in the central region of India and is known for its strong clinical expertise in the fields of Cardiology/Cardiac Surgery, Neuro Sciences, GI, Liver Transplants, Renal Sciences and critical care.

CARE Hospitals was instituted in 1997 as a single speciality Cardiac Hospital in Hyderabad with 100 beds & 20 cardiologists. The Group has now evolved as India's leading multi-speciality hospital network with 15 healthcare facilities across 6 states and over 2400 beds offering 30 Clinical specialities. It is the first hospital group in India which has established a strong presence in tier 2 cities in India.

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Speaking about the acquisition, Mr Jasdeep Singh, Group CEO, CARE Hospitals said, "We welcome CHL Hospitals to the CARE Hospitals network and are excited by the potential to create greater accessibility to high-end clinical care to patients with our combined expertise in Central India. As a national chain CARE Hospitals has always been at the forefront of providing quality healthcare to the patient community in tier-2 cities and our hospitals are leading providers in each of these cities. This partnership with CHL consolidates our presence further with a leadership position in the key geography of the country."

With a highly talented team of more than 1200 doctors across the network and 6000+ employees, the CARE Hospitals group treat millions of patients every year and over the last 25 years has excelled in Cardiac Sciences, Oncology, Neurosciences, Renal Sciences, Gastroenterology &Hepatology, Orthopaedics & Joint Replacement, ENT, Vascular Surgery, Integrated Organ Transplants.

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.

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 specialities 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."

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