Consolidates leadership position as dominant provider of healthcare services in tier 2 markets
Hyderabad based CARE Hospitals Group an asset of TPG Growth managed Evercare Fund has announced its entry into Madhya Pradesh region through the acquisition of Indore based CHL Hospitals.
Speaking about the acquisition, 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 a key geography of the country.”
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.”
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.”