Fortis Healthcare Limited will acquire TMI Healthcare Private Limited, which runs People Tree Hospitals, a leading multispecialty hospital located in Yeshwanthpur, Bengaluru, for Rs 430 crore, the company said on Saturday.
As part of the transaction, along with the acquisition of the hospital, Fortis would also acquire the hospital infrastructure and the underlying land from the promoters, as well as an adjacent land parcel from an independent third party.
Alvarez & Marsal acted as the exclusive financial advisor to People Tree Hospitals and its shareholders on this transaction.
People Tree Hospitals is a leading multispecialty hospital in Yeshwanthpur, North-West Bengaluru. The hospital is NABH-accredited and offers key specialties such as Cardiac Sciences, Orthopedics, Neurosciences, Renal Sciences, Gastroenterology, and Paediatrics.
TMI has a consolidated revenue of Rs 102 crore for FY25.
TMI Healthcare comprises the People Tree Hospital, Yeshwanthpur, and two identified facilities (People Tree Hospital, Raghavendra, and People Tree Hospital, Meenakshi). As part of the transaction to acquire a 100% equity stake in TMI Healthcare Private Limited, the above-identified facilities would be carved out from TMI Healthcare prior to transaction closure, it said.
Dr. Upendra Kandluri and Dr. Jothi Neerja, promoters and founders of People Tree Hospitals, said, “We are confident that with their experience, Fortis is well positioned to lead the next phase of growth and expansion for the People Tree Yeshwanthpur facility, and further strengthen its healthcare service offerings.”
