- Malaysian hospital chain IHH Healthcare BHD, through its wholly-owned subsidiary Gleneagles Development Private Limited, has acquired the remaining stake held by Ravindranath Kancherla and his affiliates in Ravindranath GE Medical Associates Pvt. Ltd for Rs 740 Crore.
- IHH is one of the world’s largest healthcare networks, with 83 hospitals in 10 countries and more than 15,000 licensed beds.
- IHH has presence in 10 countries, in key markets of Malaysia, Singapore, Turkey, India, Greater China (including Hong Kong) and beyond
- IHH’s portfolio includes of 8 trusted and leading brands like Acibadem, Mount Elizabeth, Prince Court, Gleneagles, Fortis, Pantai and Parkway.
About Gleneagles Global Hospitals:
- Founded in 1999, Gleneagles Global Hospitals (A unit of Ravindranath GE Medical Associates Private Limited) is part of Parkway Pantai, a fully owned subsidiary of IHH Healthcare.
- The hospital operates 6 multi-super-specialty hospitals across Hyderabad, Chennai, Bangalore and Mumbai, with a capacity of approximately 1,500 beds and state-of-the-art, world-class facilities.
- A pioneer in kidney, liver, heart and lung transplants, Gleneagles Global Hospitals provides comprehensive multi-organ transplant services in the country.
- The increase of stake in Gleneagles Global Hospitals is a significant milestone in IHH’s expansion strategy and long-term goals to deliver exceptional care and advanced solutions to complex medical challenges by strengthening position in India.
- IHH paid addition Rs 30.41 Crores for the acquisition of land in Chennai that was being used for hospital operations by Ravindranath Kancherla’s Daughter in law.
- The hospital aims to strengthen and expand its leading market position as a destination for multi-organ transplant for patients from India, Middle East, Africa and South East Asia.
- In August 2015, Malaysia’s IHH Healthcare Bhd, had acquired 73.40% stake in GE Medical Associates Private Ltd for Rs 1284 Crores.
- IHH had also injected Rs 265 Crores into Global Hospitals, to fund the hospital’s capital expenditure requirements and optimize the cost of borrowing.
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