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CARE acquires 250-bed hospital
CARE acquires 250-bed hospital. City-based CARE Hospitals Group (CARE), leading multispecialty hospital chain, on Tuesday said it acquired a new hospital with 250 beds in the city.
Hyderabad: City-based CARE Hospitals Group (CARE), leading multispecialty hospital chain, on Tuesday said it acquired a new hospital with 250 beds in the city. The new hospital, now renamed as CARE Hitec City, will focus on oncology as well as organ transplants. It will be ready to start services by December this year. The acquisition was funded by an equity investment from CARE’s key shareholder, global private equity firm Advent International.
The buy-out follows CARE’s recent addition of a 100-bed facility in Visakhapatnam “The acquisition of the new facility in Hyderabad will further enhance our clinical offerings and help to deepen our services in several specialties,” said Dr B Soma Raju, Chairman, CARE Hospitals. We are now in a position to provide a broad range of high end tertiary care services across a larger platform, he added.
“The new hospital enhances our leadership position in Hyderabad and provides beds in a key location that is witnessing high demand for quality medical care. The acquisition is in line with the cluster strategy that we have adopted across our network to ensure scale and leadership in our geographies, enabling an extended range of clinical services and ease of access for our patients,” said Dilip Jose, Group CEO, CARE.
Since Advent International’s investment in April 2012, CARE has made rapid progress on multiple fronts, improving operations, adding key specialities and clinical teams, increasing capacity and expanding the hospital network. CARE has grown its footprint from 12 hospitals and 1,600 beds in seven cities three years ago to 17 hospitals and 2,400 beds in nine cities today, the company said in a release.
