Premji Invest backs NewEra Hosp to expand quality care

Nagpur: Premji Invest, billionaire Azim Premji's investment firm, and NewEra Hospitals on Thursday announced an investment in the Maharashtra-based multispeciality hospital platform. The capital from Premji Invest will be deployed towards the launch of three new hospitals in Nagpur, expanding capacity to 800 beds from 350 beds at present.The investment supports expansion of NewEra Hospitals to deepen access to quaternary care across the region. NewEra Hospitals currently has two hospitals in Nagpur and one in Navi Mumbai. It has established strong clinical credibility in complex specialities including neurosciences, transplant and cardiology."Structural gaps in India's healthcare delivery system persist. Nagpur, in particular, requires a higher bed density and an improvement in hospital infrastructure. NewEra Hospital's three founder doctors are focused on strengthening quality healthcare access. We are backing an institution that has built strong clinical capabilities in Nagpur and Navi Mumbai, led by these three visionaries," said Prakash Chellam, partner and head of healthcare and life sciences at Premji Invest.NewEra Hospitals was founded in 2016 by veterans Dr Anand Sancheti, Dr Nilesh Agrawal and Dr Nidheesh Mishra. "We have always believed that quality quaternary care should not be a privilege restricted to patients in larger cities. This investment gives us the infrastructure runway to fulfil that promise at scale," Dr Anand Sancheti."From day one, our goal was never to build just another hospital, but to build an institution that patients could trust in the most critical moments of their lives," Dr Nilesh Agrawal, co-founder, NewEra Hospitals."We are excited to partner with the Premji Invest team as we scale NewEra Hospitals. This partnership gives us confidence and resources to move faster, build bigger and deepen our impact across Maharashtra in ways we could not have imagined when we started in 2016," Dr Nidheesh Mishra."Premji Invest's partnership marks an exciting new chapter for NewEra Hospitals, and we look forward to the journey ahead,"Ankit Pagariya, investor, NewEra Hospitals.Novem Advisors Private Limited, a mid-market investment banking firm founded by Shrenik Vora, acted as the exclusive financial adviser to NewEra Hospitals on this transaction.
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