Zydus Hospitals, the hospital arm of listed pharmaceuticals company Cadila Healthcare Ltd announced the acquisition of 99-bed Columbia Asia Hospital, Ahmedabad unit for an undisclosed amount.
Speaking on the development, the founder of Zydus Hospitals, Mr. Pankaj R. Patel said, “As a group, we have always believed in offering the very best in terms of technology, innovation, quality and patient-centric services. We believe that, with this new addition in our fold, we will be able to expand our operations rapidly and offer comprehensive cancer care to the people of Gujarat.”
Currently, Zydus, has two hospitals in Gujarat: a 650-bed unit in Ahmedabad and 180-bed unit in Anand.
Dr Nanda Kumar Jairam, CEO, Columbia Asia, said, “It was a difficult decision, but the Management of Columbia Asia has taken a decision to exit our Ahmedabad operations. We have had some great experiences and although there were tough times, the support of our stakeholders have always sailed through. I would like to thank the community, its stakeholders, doctors, medical staff and local authorities for the support all these years. We have made detailed plans to relocate as many of our Ahmedabad colleagues into the hospitals we operate in other geography, and for those who have chosen to stay in Ahmedabad to be duly compensated.”
Columbia Asia Hospital – Ahmedabad, was instituted in August, 2014. It was a 99-bed tertiary care centre, equipped with world-class technology and infrastructure built to cater the community surroundings in Gujarat.
“We have gained much understanding and learning through our experience. We are taking our experience back to the boardroom and we will continuously strengthen our presence in India. We’d also like to emphasize that we are committed to further growth of our business in India. In fact, we had opened 206 bedded hospital in Bangalore last year which is achieving the fastest growth in the history of Columbia Asia. The plan for our new hospital development in Pune which will be the largest Columbia Asia Hospital in India is also progressing on schedule and we are in the midst of building the facility. It has been our core philosophy to extend quality and exceptional healthcare services to the community surroundings since inception, and we are passionate and committed to continue on our journey.” added Dr. Jairam.
Indium Capital Advisors advised Columbia Asia on this transaction.