KIMS Acquires Vizag’s Queen's NRI Hospital for INR 75 Cr

The acquisition of the hospital, which recorded revenues of nearly 63 Cr in the financial year 2022-23, is set to be completed in a month.

Hyderabad-based Krishna Institute of Medical Sciences, also known as KIMS Hospitals, has acquired Vizag-based Queen's NRI Hospital for INR 75 Cr.

The acquisition of the hospital, which recorded revenues of nearly 63 Cr in the financial year 2022-23, is set to be completed in a month.

The acquisition involves purchasing the entire stake in Chalasani Hospitals, which owns Queen’s NRI Hospital.

According to KIMS Hospitals chairman & MD Bhaskara Rao, the acquisition will expand KIMS hospitals' presence in Vizag, increasing its capacity to 630 beds.

Recently, the Hyderabad-based hospital chain entered into a share purchase agreement with the erstwhile promoters and shareholders of Chalasani Hospitals to purchase the entire stake in the company, it said in a regulatory filing with the bourses.

Founded by Dr Ranga Rao Chalasani and Dr Vijaya Lakshmi Chalasani, Queen’s NRI Hospital was acquired by Chalasani Hospitals in 1994. It aims to provide personalized patient-centric treatment and care.

The hospital offers comprehensive medical services and Centers of Excellence including specialized departments in oncology, cardiology, neurosurgery, and nephrology.

KIMS, on the other hand, was founded in 2000 by Dr Bhaskar Rao Bollineni in the city of Nellore, Andhra Pradesh, India. Over the years, the KIMS Group expanded its presence across multiple states, including Andhra Pradesh, Telangana, and Maharashtra.

The group now operates 12 hospitals, offering comprehensive healthcare services. KIMS Hospitals aims to provide affordable quality care to patients, emphasizing patient-centric systems and processes.

As a result of the development, shares of KIMS soared as much as 4.09% to hit an intraday high of INR 2,190.05 per share on Wednesday.

KIMS’ Recent Developments

In January, KIMS Hospitals in Kondapur introduced the 'Enhanced Patient Safety with Smart Wards' program, aiming to leverage technology for heightened patient care. This initiative integrates advanced ambulatory patient monitoring on 25% of the hospital's beds, with plans to extend this technology to all ward beds within the following year.

In the same month, Karnataka Health and Welfare Minister Dinesh Gundu Rao inaugurated a Tele ICU facility at Karnataka Institute of Medical Sciences (KIMS) and Hospital in Hubballi, Karnataka. Ten spoke hospitals were connected to the KIMS Tele ICU Hub, through which doctors can speak directly with the patients and offer treatment suggestions.