1 min read.Updated: 28 Oct 2021, 01:35 PM ISTLivemint
Marengo Asia plans on building new clinical partnerships, introducing latest medical and technological advances, and bringing global expertise to strengthen CIMS Hospital
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Mumbai: Marengo Asia Healthcare, a healthcare platform set up by Samara Capital and the family offices of Havells and Godrej groups, on Thursday said it is investing ₹450 crore 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 strengthen CIMS Hospital.
Established in 2010, by a 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.
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, allrounder doctors of the CIMSHospital will also be joining Marengo Asia as investors.
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 tojointlyenhancethe footprint ofCIMS acrossIndia."
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.
Dr Raajiv Singhal, founding member and managing director, Marengo AsiaHealthcare, said, “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 andTransplants."