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Gleneagles Healthcare eyes acquisition-led expansion in India

Wednesday, 20 Mar 2024
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Gleneagles Healthcare India, a wholly-owned subsidiary of Malaysia’s healthcare giant IHH Healthcare Berhad, plans to embark on its next phase of growth in India. To this end, the hospital chain is scouting for acquisitions of 250-300-bed hospitals in proximity to its existing locations. 

Operating with 1,500 beds across six hospitals in Mumbai, Chennai, Bengaluru and Hyderabad, Gleneagles Healthcare also plans to do brownfield expansion in its existing facilities. Currently, its network hospitals are operating at 65 to 70 percent occupancy levels. It boasts a turnover of around Rs 1,000 crore.

Last year, IHH Healthcare inked an agreement to buy out the remaining stake held in Ravindranath GE Medical Associates (RGE) for about Rs 740 crore. IHH and RGE were operating Gleneagles Global Hospitals as a joint venture. It is now rebranded as Gleneagles Hospitals creating a new identity.

Gleneagles Healthcare now owns the brand Gleneagles Hospitals, and will build on the brand’s commitment to provide excellence, from superior clinical outcomes to the highest standards of quality and care.

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