IHH Strengthens Commitment with Ravindranath GE Stake Acquisition
Written by Susi, Arushi Sharma
In a definitive move underscoring its unwavering commitment, IHH Healthcare has taken a significant stride by acquiring a stake in Ravindranath GE Medical Associates.
IHH Healthcare will acquire the remaining stake in Ravindranath GE Medical Associates through its subsidiary Gleneagles Development.
Dr. Ravindranath, the founder of RGE, which operates Gleneagles Global Hospitals, plans to sell his stake for approximately Rs 7,400 million (approximately RM 415 million). The transaction is scheduled to close in the fourth quarter of 2023.
Ashok Pandit Group Chief Strategy and Business Development Officer, IHH Healthcare said,
“This transaction reflects our continued commitment and strategic focus in the healthcare sector in India. We thank Dr Ravindranath Kancherla, the founder of RGE, for the partnership over the last eight years and the opportunity to build on his pioneering work.”
Anurag Yadav Chief Executive Officer, IHH Healthcare India said,
“This latest investment is a significant milestone in IHH’s expansion strategy and long-term goals in India. Backed by unparalleled clinical outcomes, the acquisition strengthens our position in the country. Demonstrating our commitment to delivering exceptional care and advanced solutions to complex medical challenges, we strive to fulfil our aspiration of Care. For good.”