Marengo Asia Healthcare on Thursday said it has invested Rs 450 crore in Ahmedabad-based CIMS Hospital for an undisclosed stake.
This is the first investment for the newly created Marengo Asia Healthcare platform, backed by Samara Capital, Havells Family Investment Office and Godrej Family Investment Office. With the investment, Gurgaon-based Marengo aims to build new clinical partnerships, introduce the latest medical and technological advances, and bring global expertise to further strengthen CIMS Hospital.
Established in 2010, CIMS Hospital has grown from a 125-bed facility to a 330-bed multi-super speciality hospital. It is amongst the first JCI accredited hospitals in Gujarat and enjoys a leadership position from being among the first hospitals in the state to successfully conduct highly complex procedures such as heart transplants and pediatric bone marrow transplants, among others.
As part of the deal, all founder doctors of the CIMS Hospital will be joining Marengo Asia as investors.
“Through our network of partnerships with globally renowned medical and academic institutions, we intend to further build on CIMS Hospital's clinical strengths and introduce Centers of Excellence across departments such as cardiac sciences, oncology and transplants,'' Marengo Asia Healthcare Founding Member and Managing Director Raajiv Singhal said.
The company aims to expand the footprint of CIMS Hospital in other parts of Gujarat and Western India, he added.
(With inputs from PTI)