Global Hospitals, a fully owned subsidiary of IHH Healthcare has explored acquisition opportunities and operations and management (O&M) deals to expand its presence in India, the Economic Times reported.
The move comes after the hospital reported steady multi-organ transplant volumes after a dip during the Covid-19 pandemic.
Disruption of organ transplant surgeries and workforce challenges were cited as reasons for its revenue decline during the Covid period.
IHH Healthcare India COO and Global Hospitals Mumbai CEO Dr Vivek Talaulikar said: “Now that our transplant volumes are back, our occupancy rates at group level are at 60–65%. We ended 2022 with year-on-year growth of 14–15%; we are Ebitda positive.
“2023 is a year we think we have to expand and consolidate,” Talaulikar said.
With potential acquisitions and O&M deals in the pipeline, the company expects higher growth this year with its collaboration with hospitals situated in tier-2 and tier-3 cities across India.
The hospital group plans to expand in existing locations to facilitate smooth management, the report stated.
As part of the plans, Global Hospitals also intents to rebuild its multi-organ transplant team led by Dr Gaurav Chaubal to leverage India’s position as the most affordable destination for transplants across the globe, Talaulikar added.
IHH Healthcare, which acquired a major stake in Ravindranath GE Medical Associates (Global Hospitals) for $156.8m (Rs1,284 crore) in 2015, currently operates six Global Hospitals with around 1,000 beds in Hyderabad, Mumbai, Chennai and Bengaluru.