Care Institute of Medical Sciences (CIMS) Hospital, based in Ahmedabad, is valued at over Rs 600 crore by the private equity placement. It is believed to have sold off 80 percent of its stake to a European fund in order to raise Rs 500 crore.
The reports suggest that the raised funds will be used to
take it at a national level by collaborating with well-established hospitals in the country and extending hi-tech healthcare facilities. Also, the funds will be utilized to take over four to five Gujarat-based hospitals.
CIMS is a 350-bed multi-super specialty hospital, situated in the Science City area of Ahmedabad. It offers a range of diagnostic and treatment services.
However, top sources from the CIMS Hospital have denied any such deal taking place, saying that there might be the buzz of the Hospital being sold off but no such deal has taken place so far.
We regularly receive offers for collaborations, acquisitions and mergers by Singapore, Japan, America, Europe and other international groups, the sources added.
Sharing the expansion plans of the hospital, the sources said that they were looking forward to taking up the CIMS brand national which is likely to be accomplished by taking Gujarat-based hospitals and other states.
CIMS Hospital is a leading hospital for heart in Ahmedabad, Gujarat. It offers advanced quality services and treatment for most diseases and medical issues with one of the highest success rates in the country, hospital source added.