Premji Invest backs Maharashtra-based hospital chain NewEra Hospitals

Billionaire Azim Premji’s investment firm Premji Invest has invested an undisclosed sum in NewEra Hospitals to scale the multispecialty hospital chain across Maharashtra, the firm announced on Thursday.

The capital from Premji Invest will be used to launch three new hospitals in Nagpur, expanding capacity to 800 beds from 350. NewEra Hospitals currently has two hospitals in Nagpur and one hospital in Navi Mumbai. The aim is to deepen access to quaternary care across the region.

“Structural gaps in India's healthcare delivery system persist,” Prakash Chellam, partner and head of healthcare and life sciences at Premji Invest, said in a release. According to Chellam, Nagpur needs better medical facilities and more hospital beds. By supporting NewEra, they are investing in a team of three forward-thinking doctors dedicated to improving healthcare quality and expanding on the firm clinical foundation they have already established in Nagpur and Navi Mumbai.

Founded in 2016 by veteran doctors Dr Anand Sancheti, Dr Nilesh Agrawal, and Dr Nidheesh Mishra, NewEra has established strong clinical credibility in complex specialties, including neurosciences, transplant and cardiology.

With this expansion, the hospital chain aims to position itself as the leading quaternary care provider in Nagpur and one of Maharashtra's most significant regional hospital platforms.

“We have always believed that quality quaternary care should not be a privilege restricted to patients in the larger cities. This investment gives us the infrastructure runway to fulfil that promise at scale,” said co-founder Dr Anand Sancheti.

Premji Invest has previously backed Manipal Hospitals, Medplus, and medical consumables maker TI Medical in India, as well as several biotech and healthcare firms in the US, including Bicara Therapeutics, Moderna and DevotedHealth.

Investments in Indian healthcare services, especially targeting tier II and tier III markets, are on the rise. According to EY-Parthenon, India’s Q2FY26 report on healthcare, released in January 2026, the quarter alone saw over ₹10,000 crore worth of announced transactions across hospitals, diagnostics, and specialty care, including buyouts, minority investments, and cross-border acquisitions.