Udaipur : Marengo Asia Healthcare announces an investment of INR 450crs in CIMS Hospital, Ahmedabad, for an undisclosed stake. Through this investment, Marengo Asia plans on building new clinical partnerships, introducing latest medical and technological advances, and bringing global expertise to further strengthen CIMS Hospital.
Established in 2010, by an esteemed team of cardiac doctors led by Dr Keyur Parikh, CIMS Hospital has grown from a 125-bed facility to a 330-bed multi super specialty hospital. CIMS Hospital is amongst the first JCI accredited hospitals in Gujarat and enjoys a leadership position from being amongst the first hospital in the state to successfully conduct highly complex procedures such as Heart Transplants, TAVR, Pediatric Bone Marrow Transplants, Complex Cancer.
This association is the first investment for the Marengo Asia Healthcare platform which is backed by Samara Capital, Havells Family Investment Office and Godrej Family Investment Office. As part of the deal, all founder doctors of the CIMS Hospital will also be joining Marengo Asia as investors.
Dr. Keyur Parikh, Founder and Chairman of CIMS, said, “CIMS Hospital is the No. 1 ranked hospital in Gujarat in terms of clinical excellence, and we are excited to be associated with Marengo Asia to jointly enhance the footprint of CIMS across India.”
Dr. Raajiv Singhal, Founding Member and Managing Director, Marengo Asia Healthcare, said –“We are excited to partner with CIMS Hospital and its excellent team of doctors. 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.
We plan to expand the footprint of CIMS Hospital in other parts of Gujarat and Western India. Our focus on ‘Patient First’ will mean that patients in need of treatment from all over the country will have access to world-class doctor teams, best quality treatments and state-of-the-art medical infrastructure available at CIMS Hospital.”
Indium Capital Advisors was the exclusive advisor to CIMS and its shareholders for this transaction.
Stratage Law Partners and DSK Legal were the exclusive legal advisors to Marengo Asia Healthcare and CIMS Hospital & its shareholders respectively.