Mumbai-based CritiCare Asia Multispecialty Hospital and Research Center on Friday said it has acquired Kohinoor Hospital.
With this acquisition, CritiCare Asia will have three facilities in Mumbai and will increase its bed capacity by 250, the company said in a statement, without disclosing the financial details of the transaction.
The company is also nearing the completion of a new hospital in Malad West Linking Road that will be operational soon, it added.
"The acquisition is an extension of CritiCare’s commitment to providing accessible and quality healthcare for all sections of society," said Deepak Namjoshi, Medical Director, CritiCare Asia.
CritiCare Asia was founded in 1999 by Deepak Namjoshi and Masuuma Namjoshi. Kohinoor Hospital was founded in December 2009 by Unmesh Manohar Joshi.
The healthcare sector, as a whole, was brimming with activity in 2021. The hospital segment had its own share of mergers and acquisitions (M&As), private equity (PE) deals and initial public offerings (IPOs).
For instance, Manipal Hospitals continued on its acquisition spree last year and bought PE firm Multiples-owned Vikram Hospital. The acquisition came after Manipal raised Rs 2,100 crore from National Investment and Infrastructure Fund (NIIF) in April.
Last year in June, General Atlantic-backed hospital chain Krishna Institute of Medical Sciences (KIMS) listed on the exchanges, and a few months later bought majority stake in Sunshine Hospitals.