CHENNAI: Kauvery Hospitals has earmarked Rs 1,000 crore for expansion as it seeks to add 3,000 beds by 2025 to reinforce its stronghold in south.
From a 30-bedded hospital in Tiruchy, Kauvery has now evolved into a network of 9 healthcare facilities comprising over 1,500 beds spread across six cities.
Started by ‘doctorpreneurs’ S Chandrakumar and S Manivannan in 1999, the hospital network has cemented its position as a strong player in tier-1 cities, while extending access to high-end tertiary care services in tier-2 cities.
Dr Chandrakumar, founder-chairman of Kauvery Hospitals said, “The Company is currently in the midst of a fast-paced expansion program, as it plans to reach 3,000 beds by 2025 with a network of 15 hospitals spread across 7 cities in south, TN and Bengaluru being the focus-regions, with a total capex outlay of Rs 1,000+ crores. We will also continue to evaluate opportunistic acquisitions in south, and also expand our offerings into immediate adjacencies, over and above the current plan.”
Dr. Manivannan, founder-MD, Kauvery Hospitals said, “Over the years the group has remained cognizant of the gaps in healthcare needs in its focus markets, which has enabled a wide acceptance of our services by patients”
Kauvery counts marquee global and Indian investors as its shareholders since its formative stages. The Founding Promoters’ team is actively engaged in the running of business and will continue to retain their controlling stake in the entity.
The Company has hired o3 Capital as its exclusive financial advisors with the clear objective to raise minority growth capital to fuel its planned expansion initiatives. The company intends to go for an IPO once it achieves an optimum scale along with strong financial metrics in the next 3-4 years.