Asia Healthcare Holdings (AHH)-owned Motherhood Hospitals, on Wednesday said it has acquired Bengaluru-based Femiint Hospital, in a bid to expand its network of outlets.
“Motherhood Hospitals - a chain of women and children hospitals - has invested more than Rs 200 crore in consolidating its presence in the city of Bengaluru. The company will follow a similar expansion path in some of the other cities where it has already established its presence,” said Vishal Bali, executive chairman, AHH, in a statement.
Femiint offers healthcare services for women and children across Gynaecology, Pediatrics & IVF pediatric care.
The deal adds Femiint Hospitals’ network of 7 hospitals and 2 outpatient facilities to Motherhood’s network of 18 hospitals across 8 cities in the country. Motherhood already has over 1,000 leading gynaecologists, paediatricians & neonatologists across the country associated as a part of its hospital network.
“The acquisition of Femiint gives us a deep presence in East Bengaluru,” said Vijayarathna Venkatraman, chief executive officer, Motherhood Hospitals.
AHH, a single-specialty healthcare delivery platform, was set up by private equity firm TPG Growth in 2016. Its network of hospitals specializes in oncology, mother and childcare and fertility.
In February, Singapore’s sovereign wealth fund GIC had signed a definitive agreement to invest $170 million in AHH.
In May 2022, TPG Growth had invested about $136 million Dr Agarwal’s Health Care Ltd, which specialises in eye-care. In September 2021, AHH, through Motherhood Hospitals had bought a majority stake in Chandigarh-based Chaitanya Hospital.
“At AHH, we have built the largest the largest women’s health network in South Asia. We believe there is an opportunity to consolidate this space and offer exceptional clinical services to Women, Newborn and Children,” he added.
Earlier this year in February, TPG said that AHH has invested around $200 million since its inception.