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Narayana Health acquires UK’s Practice Plus Group Hospitals in Rs 2,200 crore deal

Economic Times

Economic Times · 7h ago

Narayana Health acquires UK’s Practice Plus Group Hospitals in Rs 2,200 crore deal

Narayana Hrudayalaya Ltd, which operates Narayana Health, acquired UK’s Practice Plus Group Hospitals for around Rs 2,200 crore. This strategic move marks its entry into the UK healthcare sector, expanding its global presence. The acquisition includes seven hospitals and several healthcare facilities, aligning with Narayana Health's mission to provide accessible and affordable private healthcare. This expansion leverages its technology-driven model, enhancing long-term value creation and operational efficiency.

Related News

India's Manipal Hospitals acquires 84% stake in AMRI Hospitals

Reuters · 2y ago

India's Manipal Hospitals acquires 84% stake in AMRI Hospitals

Manipal Hospitals has acquired an 84% stake in AMRI Hospitals, a Kolkata-based chain, to expand its presence in eastern India. The deal was made with FMCG-to-realty conglomerate Emami Group, who will retain a 15% stake in AMRI while the government of West Bengal will hold 1%. The acquisition comes as the private healthcare sector in India sees a post-pandemic boom, with M&A deals in the sector totaling $4 billion in 2022 and $2.2 billion in the first five months of 2023. The projected annual growth for India's private healthcare market is 12-14%.

Bengaluru: Targeting techies, hospitals double down on preventive health packages

Economic Times

Economic Times · 6m ago

Bengaluru: Targeting techies, hospitals double down on preventive health packages

Corporate hospitals in Bengaluru are increasingly focusing on preventive healthcare due to a notable rise in health check-ups and consultations, driven by insurance and subscription models. Narayana Hrudayalaya has launched Aarogyam, a tech-focused screening center, while Apollo and Manipal promote regular screenings amid rising lifestyle diseases. Preventive healthcare is emerging as a significant business model, with hospitals offering subscription-based check-ups. Studies highlight a growing awareness and need for proactive healthcare due to prevalent undiagnosed chronic conditions.

Niva Bupa eyes Rs 2,200 Cr via IPO; sets price band at Rs 70-74/share

YourStory

YourStory · 12m ago

Niva Bupa eyes Rs 2,200 Cr via IPO; sets price band at Rs 70-74/share

Niva Bupa Health Insurance Company has announced the price band for its initial public offering (IPO) at Rs 70-74 per share. The IPO, which is a combination of fresh equity shares and an offer for sale by promoters, is set to open for public subscription on November 7. The company aims to raise Rs 2,200 crore through the IPO, with proceeds to be used for strengthening capital base and general corporate purposes. The IPO will be the second by a standalone health insurer in India, following Star Health & Allied Insurance Company.

Medical tourism company Vaidam Health acquires MediJourney in an all-cash deal

IndianStartupNews

IndianStartupNews · 4m ago

Medical tourism company Vaidam Health acquires MediJourney in an all-cash deal

Vaidam Health, an Indian medical tourism platform, has acquired MediJourney, a digital-centric patient facilitation startup, in an all-cash deal. MediJourney, incubated by Ferns N Petals, connects international patients with verified hospitals via a tech-enabled interface. This acquisition allows Vaidam to incorporate MediJourney’s digital infrastructure, enhancing its capabilities in patient onboarding and navigation. Post-acquisition, MediJourney will operate independently, focusing on new strategic opportunities while contributing to a projected increase in patient engagements.

ClaimBuddy bags new investment from Bharat Innovation Fund

Entrackr

Entrackr · 1y ago

ClaimBuddy bags new investment from Bharat Innovation Fund

Health insurance startup ClaimBuddy has raised Rs 24.8 crore ($3 million) from Bharat Innovation Fund. This is the second notable investment for the Gurgaon-based company since its incorporation. The board at ClaimBuddy has passed a special resolution to allot 10 equity and 2,980 compulsory cumulative preference shares at an issue price of Rs 83,284 each to raise Rs 24.8 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. ClaimBuddy streamlines the health insurance claim process for both patients and hospitals by utilizing technology and efficient operations to guarantee smooth and hassle-free claims. According to its website, the company has managed over 500 crore claims, partnered with 250 plus hospitals, helped more than 35,000 patients, and currently operates in 6 cities. As per startup data intelligence platform TheKredible, the company has been valued at $22 million (post-allotment). ClaimBuddy has been backed by Chiratae Ventures, Redbright Partners, Lets Ventures, and individuals like Rohit Bansal and Kunal Bhal. The company raised around Rs 50 crore to date including a $3 million round in February 2022. Before the fresh proceeds, Chiratae Ventures was the largest external stakeholder with 9.77% followed by Rebright Partners and LetsVenture. Its co-founders Ajit Patel and Khet Singh owned 55.62% of the company. When it comes to scale, the four-year-old company recorded 1.8X growth in revenue to Rs 6.14 crore in FY23 from Rs 3.36 crore in FY22. It posted Rs 71 lakhs in the fiscal year ending March 2023.

Titan Acquires 27.2% Additional Share Of Caratlane In Rs 4,621-Crore Deal

OutlookIndia

OutlookIndia · 2y ago

Titan Acquires 27.2% Additional Share Of Caratlane In Rs 4,621-Crore Deal

Jewelry maker Titan has acquired an additional 27.18% stake in subsidiary CaratLane, raising its total holding to 98.28%. The Tata group firm purchased equity shares for Rs 4,621 crore, expecting the deal to close by October 31, 2023, subject to regulatory approvals. Titan initially invested in CaratLane in 2010 and increased its stake over the years.

Creativefuel acquires Miss Malini for Rs 6 Cr

YourStory

YourStory · 6m ago

Creativefuel acquires Miss Malini for Rs 6 Cr

Creativefuel is acquiring MissMalini Entertainment from the Good Glamm Group for Rs 6 crore. The deal includes MissMalini's domain and social media assets, while the talent management arm remains with Good Glamm. This move follows Good Glamm's recent divestments, including selling Sirona back to its founders and digital platform ScoopWhoop to WLDD, amid financial challenges. The company is considering selling stakes in other brands and seeking fresh funds due to liquidity issues and investor departures.

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Economic Times

Economic Times · 4m ago

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Manipal Health Enterprises and Fortis Healthcare are in discussions with foreign lenders to raise up to Rs 5,000 crore for bidding on Sahyadri Hospitals, a multispecialty hospital chain. Ontario Teachers' Pension Plan (OTPP), owning a 98.9% stake in Sahyadri, is selling it less than three years after acquiring control from Everstone Capital. Sahyadri operates 11 hospitals across Maharashtra and is a prominent entity in the ongoing consolidation of India's hospital sector.

PE firm InvAscent backs multi-speciality hospital chain SRV Hospitals

VCCircle

VCCircle · 6m ago

PE firm InvAscent backs multi-speciality hospital chain SRV Hospitals

InvAscent, a healthcare-focused private equity firm, invested Rs 140 crore in SRV Hospitals, a Mumbai-based multi-speciality hospital chain. This is InvAscent's fifth investment from its fourth fund, following a January deal with Geri Care. The funding aims to support SRV's organic and inorganic growth. InvAscent's fourth fund, targeting $325 million, has also invested in Mavia Pharma and Fleming Laboratories. SRV Hospitals operates over 500 beds across India.

Everhope Oncology raises $10 million to bring retail model for cancer care in India

Economic Times

Economic Times · 7m ago

Everhope Oncology raises $10 million to bring retail model for cancer care in India

Everhope Oncology, a venture by Narayana Health Group, W Health Ventures, and 2070 Health, has raised $10 million to establish retail-based cancer care clinics in India, starting with Delhi and Mumbai. These clinics aim to provide comprehensive cancer services in non-hospital settings to reduce stigma and improve accessibility. The model focuses on personalized patient experiences, offering mental health counselling, nutritional consultations, and more. This initiative seeks to revolutionize oncology care with a scalable, convenient approach.

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