CARE acquires hospital in Hyderabad

Multi-speciality hospital chain CARE Hospitals Group (CARE) today said it has acquired a new hospital with 250 beds in HITEC City, here.
Besides CARE's traditional areas of specialisation including cardiac sciences, neuro sciences and renal sciences, the new hospital would focus on oncology as well as organ transplants, it said in a statement.
The hospital, renamed CARE HITEC City, would be ready to start services by December of this year.
The acquisition was funded by an equity investment from CARE's key shareholder, global private equity firm Advent International.
It follows CARE's recent addition of a 100-bed facility in Vizag, and together, the two transactions will further consolidate the group's presence in the states of Telangana and Andhra Pradesh, it added.

"The acquisition of the new facility in Hyderabad will further enhance our clinical offerings and help to deepen our services in several specialities," said Dr B Soma Raju, Founder and Chairman of CARE Hospitals.
"We are now in a position to provide a broad range of high end tertiary care services across a larger platform," he added.