‘Thane hosp will be 2nd acquisition for KIMS’

Mumbai: Hiranandani Group’s deal with KIMS for the Thane hospital was concluded last month. KIMS, which is a listed company, is expected to inform the stock exchange soon. A source, who is aware of the details of the deal, said the Thane hospital would be the second acquisition for the Hyderabad-based KIMS Hospitals. In 2022, the chain bought a 51% stake in Kingsway Hospital, Nagpur, in an Rs 80-crore deal.Due to high cost of real estate, most healthcare chains have been slow to enter the Mumbai market all these years. “The entry to Mumbai is usually ‘inorganic’ in that most chains prefer to buy an existing hospital,” said hospital management consultant Dr Vivek Desai.For instance, the Manipal group is reportedly in talks about acquiring an under-construction, 1,000-bed hospital in Borivli. Jupiter Hospital from Thane will manage the Lodha Group’s 500-bed hospital near Palava. TNN