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Jaslok Hospital to be likely taken over by IHH Healthcare: Report

Jaslok Hospital to be likely taken over by IHH Healthcare: Report

Mumbai: The bid among suitors to take over the operations of Mumbai-based Jaslok Hospital seems to have finally concluded with IHH Healthcare Berhad taking over the operation management deal of the hospital.

A recent report in Mumbai Mirror pointed out that after numerous rounds of negotiation, an agreement was finally reached between management of Jaslok and IHH was concluded

Jaslok Hospital is a 350-bedded Hospital on Peddar Road, Mumbai which was established in 1973 by businessman and philanthropist Seth Lokoomal Chanrai and family.It is considered one of the oldest tertiary hospitals in the city and is credited with diagnosing the first HIV case in the city, among other medical achievements.

Medical Dialogues had earlier reported that the Mumbai based Jaslok Hospital was looking to expand its footprint in the country for which various suitors had shown their interest.

The managing trustee of the hospital was looking to hand over the operations and management control for which 6 firms had shown their interest including Malaysia based IHH Healthcare and Indian conglomerate Hinduja Group.

Also Read: Jaslok Hospital looks to handover its daily operations; Hospital Giants line up

In the current scenario, it is learnt that the agreement between the management of Jaslok and IHH was concluded after many rounds of negotiation.

The conclusion was reached following a series of meeting held between Jaslok’s Chief Trustee NG Chanrai and Tan See Leng, Managing Director and Chief Executive Officer of IHH Healthcare.

Other healthcare firms from India and abroad, including KKR-backed Radiant Life Care, were interested in Jaslok but none of the deals worked out. Radiant had entered a profit-sharing agreement with Mumbai’s Nanavati Hospital in 2014, similar to IHH’s deal with Jaslok.

Prior to this, IHH had successfully acquired 31 per cent stake in Fortis Healthcare through a preferential allotment that closed on November 13 last year and immediately infused Rs 4,000 crore in Fortis to stabilise the business.

Jaslok will complete 50 years in 2023, before which the management plans to renovate the infrastructure, reports Mumbai Mirror.

Also Read: We have Faith In Indian Judiciary: IHH CEO on Fortis Deal

Source: with inputs
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