Fortis Healthcare Chennai to be Acquired by Kauvery Hospitals
Kauvery Hospitals has made definitive arrangements to buy Fortis Healthcare Limited's hospital business operations in Vadapalani, Chennai. Over the past two decades, Kauvery Hospitals, led by Dr. S Chandrakumar and Dr. S Manivannan, has established a solid footing in its main markets of Tamil Nadu and Karnataka and has emerged as one of the top hospital chains in the south.
It began as a 30-bed hospital in 1999 and has grown to a network of nine facilities with 2,000 beds distributed across six cities: Chennai, Tiruchy, Bengaluru, Salem, Hosur, and Tirunelveli. Kauvery would have around 750 beds in Chennai after acquiring the 200-bed Vadapalani facility.
This is consistent with Kauvery's aim of expanding its footprint in Chennai and having over 1,000 beds in the city within the next 18 months. "Kauvery is currently in the midst of a rapid expansion programme, with plans to reach 1,000 beds in each of the Chennai, Bengaluru, and TN clusters by 2025." This expansion would mean that the network would have 15 hospitals distributed over seven southern cities, with 3,000+ beds, and would likely go public in the next 36 months.
"With this latest acquisition, Kauvery Hospitals will become the second largest hospital chain in Chennai, as it continues to focus on strengthening its leadership position in existing markets," stated Dr. Chandrakumar, founder and chairman of Kauvery Hospitals Group.