Kauvery Hospitals buys Fortis Hospital; 2nd largest hospital chain in Chennai
Established in 1999 as a 30-bedded hospital, it has scaled its presence to a network of nine facilities comprising 2,000 beds spread across six cities.
CHENNAI: Kauvery Hospitals has signed definitive agreements to acquire hospital business operations of Fortis Healthcare Limited at Vadapalani, Chennai.
Kauvery Hospitals, spearheaded by Dr S Chandrakumar and Dr S Manivannan, has built a strong foothold in its focus markets of Tamil Nadu and Karnataka over two decades and has emerged as one the leading hospital chains in south.
Established in 1999 as a 30-bedded hospital, it has scaled its presence to a network of nine facilities comprising 2,000 beds spread across six cities viz Chennai, Tiruchy, Bengaluru, Salem, Hosur and Tirunelveli.
With the acquisition of the 200-bed Vadapalani facility in Chennai, Kauvery would have over 750 beds in the city. This is in line with Kauvery’s strategy to further expand its presence in the city and have over 1,000 beds in Chennai in the next 18 months.
“Kauvery is currently in the midst of a fast-paced expansion programme, as it plans to reach 1,000 beds each by 2025 in Chennai, Bengaluru and TN clusters. This ramp-up would mean that the network shall comprise 15 hospitals spread across seven cities in south, with 3,000+ beds and shall likely go for an IPO, in the next 36 months. With this latest acquisition Kauvery Hospitals shall be the second largest hospital chain in Chennai as it continues to focus on strengthening its leadership position in existing markets”, said Dr Chandrakumar, founder- chairman, Kauvery Hospitals Group.
“Kauvery Hospitals, with three hospitals in Chennai and nine more hospitals spread across 5 cities, has established a strong presence in TN and Bengaluru. This new acquisition will help us to provide care to the larger community covering all parts of the city. We will be launching two more hospitals in Tiruchy and Bengaluru respectively in this financial year as part of our focussed expansion drive”, said Dr S Manivannan, founder-MD, Kauvery Group of Hospitals.