MGM Healthcare expands footprint by buying Vizag's SevenHills Hospital
With this acquisition, MGM Healthcare Group has achieved a landmark of 1000+ beds within the short span of 5 years since the first hospital was launched.
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CHENNAI: MGM Healthcare, a renowned multi-specialty quaternary-care healthcare group with origins in Chennai, announced a significant expansion of its service area through the acquisition of SevenHills Hospital, Visakhapatnam by participation in the Corporate Insolvency Resolution Process of SevenHills Healthcare Private Limited. With this acquisition, MGM Healthcare Group has achieved a landmark of 1000+ beds within the short span of 5 years since the first hospital was launched.
*MGM Healthcare's first foray outside Chennai
*Acquires Vizag's 300-bed SevenHills Hospital
*Over 1,000 beds in just five years
*SevenHills clocked Rs 100 cr revenue in FY24
Dr Prashanth Rajagopalan, director, MGM Healthcare said, “The strategic acquisition of SevenHills hospital marks our first foray outside Chennai and is a milestone in our vision of expanding access to quality, affordable and personalised healthcare. By joining forces with SevenHills we're poised to serve patients in Vizag and from the neighbouring states of Telangana, Odisha, and Chhattisgarh. This acquisition aligns with our commitment to thoughtful geographical expansion.”
Founded in 1988, SevenHills, one of the oldest multi-specialty hospitals in Vishakapatnam, is known for providing high quality care for over 35 years. The tertiary care facility provides care for over 1 lakh patients every year and is accredited by both NABH and NABL. The hospital recorded a revenue of over Rs 100 crore in FY24.
Built on a sprawling campus at Rockdale Layout on Waltair Main Road in the heart of the city, the 11-floor facility has 2,00,000 sqft of built-up area. The hospital has 300 beds and a team of 100+ doctors and 700+ staff. SevenHills Hospital offers preventive and curative care across all major specialities including Cardiac care, Emergency and Critical Care, Medical and Gastroenterology, Nephrology, Urology, Cosmetic Care, Neurology and Neuro-Surgery and Organ-Transplantation.
The infrastructure and facilities include CCU (Critical Care Unit), Intensive Care Unit (ICU), Cath Lab, 128-Slice-CT, an Automated Laboratory Unit, Deluxe Ward, 1.5 Tesla MRI, Priority Clinic Lounge, and Modular Operation Theatres (OT) to name a few.
SevenHills hospital has an in-house nursing college and training facility accredited by the Andhra Pradesh Government and is also accredited by the National Board of Examinations to conduct Diplomate in National Board programs in Anasthesiology and General Surgery.
The acquisition was completed with the help of the Resolution Professional. Ernst&Young acted as the advisory partner for the acquisition.
