Healthcare services provider Kerela Institute of Medical Sciences is looking to acquire two hospitals in South India and has earmarked a budget of Rs 300 crore for the purpose.
The company is primarily interested in acquiring hospital with a capacity of 100-150 beds in Bangalore and surrounding areas in South India.
“In order to expand our network in other parts of the country, we are looking for two hospitals in the Southern India having capacity of 100 to 250 beds,” Kerala Institute of Medical Sciences (KIMS) CMD M Sahadulla told reporters.
When asked about the proposed investments involved in the projects, he said, “KIMS has earmarked a budget of Rs 300 crore for the expansions which would be arranged through private equity investments.”
The institute is interested in acquiring hospitals around Bangalore to expand its network, Sahadulla said, adding KIMS is also keen in expanding its network in overseas market.
“KIMS has shown interest in expanding its network in Middle East region and is presently exploring the opportunities there,” he said.
The company is presently in talks with two leading private equity funds to raise corpus for the expansions. Out of these two players, one is Singapore based healthcare focused PE player and other one domestic one who has made sizeable investments in healthcare segment.
Besides this, KIMS also plans to get itself listed in Bombay Stock Exchange also in the next three years.
KIMS is the first venture of KIMS Healthcare Management which was started by a group of doctors and entrepreneurs and it currently it runs 450-bed multi-specialty hospital in Thiruvananthapuram, Kerela.
Source: Economic Times