MGM Healthcare Acquires SevenHills Hospital in Major Expansion Move

This acquisition was part of the corporate insolvency resolution process for SevenHills Healthcare.

MGM Healthcare, a Chennai-based multi-specialty quaternary-care healthcare group, has expanded its operations by acquiring SevenHills Hospital in Visakhapatnam.

This acquisition was part of the corporate insolvency resolution process for SevenHills Healthcare. With this strategic move, MGM Healthcare has crossed the milestone of over 1,000 beds within just five years since its inception.

Sharing insights, Prashanth Rajagopalan, director of MGM Healthcare, said, "MGM Healthcare’s 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 personalized healthcare. By joining forces with SevenHills, a respected institution with a deep-rooted legacy in Visakhapatnam, we're poised to serve patients in Vizag and from the neighboring states of Telangana, Odisha, and Chhattisgarh."

About SevenHills Hospital

Founded in 1988, SevenHills Hospital is one of the oldest multi-specialty hospitals in Visakhapatnam. The tertiary care facility serves more than 100,000 patients annually and is accredited by both NABH and NABL. In FY24, the hospital reported a revenue exceeding INR 100 Cr.

SevenHills Hospital provides comprehensive care across various specialties including cardiac care, emergency and critical care, gastroenterology, nephrology, urology, neurology and neurosurgery, and organ transplantation.

"This acquisition aligns with MGM Healthcare's commitment to thoughtful geographical expansion. We will, with dedication, leverage our strengths to improve the lives of patients through outstanding healthcare," Rajagopalan added.

SevenHills Hospital also operates an in-house nursing college and training facility accredited by the Government of Andhra Pradesh.

In a similar development, Hyderabad-based Krishna Institute of Medical Sciences (KIMS Hospitals) acquired Vizag-based Queen's NRI Hospital for INR 75 Cr. The acquisition, involving the purchase of the entire stake in Chalasani Hospitals, which owns Queen’s NRI Hospital, is expected to be completed within a month.

Queen's NRI Hospital recorded revenues of nearly INR 63 Cr in the financial year 2022-23. According to KIMS Hospitals chairman & MD Bhaskara Rao, this acquisition increased KIMS Hospitals' presence in Vizag, expanding its capacity to 630 beds.