Through this investment, CARE Hospitals will have a majority stake in United CIIGMA Hospitals and will be present across 3 cities in the state
Hyderabad-based CARE Hospitals Group, an asset of TPG Growth managed Evercare Fund has announced the expansion of their network in Maharashtra region through a strategic partnership with Aurangabad-based United CIIGMA Hospitals.
Through this investment, CARE Hospitals will have a majority stake in United CIIGMA Hospitals and will be present across 3 cities in the state. The CARE Hospitals network spans 17 healthcare facilities in 8 cities and 6 states of the country.
Vishal Bali, Chairman, CARE Hospitals said, “The fast-growing tier 2 cities in the country have a current demand-supply gap of 50,000 beds which is likely to expand to 110,000 beds in the next 5 years. These cities represent the next phase of growth as consumers aspire for better healthcare services and CARE Hospitals is very well positioned to consolidate and grow in these cities with its vintage and clinical acumen. Creating the right partnerships with leading providers in these regions and building scale in their ecosystems by adding clinical specialities and bed capacity is a priority for the group. GDP growth in some of these tier 2 cities is pushing faster than the national average.”