MGM Healthcare Expands to Vizag with SevenHills Hospital Acquisition

In a strategic move, MGM Healthcare has acquired the 300-bed SevenHills Hospital in Visakhapatnam. This marks the Chennai-based multi-specialty quaternary-care group's first venture beyond its home city. The acquisition was part of the Corporate Insolvency Resolution Process (CIRP) of SevenHills Healthcare Private Ltd, a process overseen by the National Company Law Tribunal’s (NCLT) Amaravati bench in Hyderabad.

Established in 1988, SevenHills Hospital is one of Visakhapatnam’s oldest multi-specialty institutions. It entered CIRP proceedings in March 2018, initiated by Axis Bank under the Insolvency and Bankruptcy Code (IBC). SevenHills also operates a 1,500-bed hospital in Mumbai, extending its legacy and reach in healthcare services.

Dr. Prashanth Rajagopalan, Director of MGM Healthcare, expressed enthusiasm for the expansion. "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 neighboring states," he said. The acquisition brings over 100 doctors and 700 staff members under MGM's umbrella.

SevenHills Hospital is equipped with major specialties, including cardiac care, emergency services, and organ transplantation. It also features an in-house nursing college and training facility accredited by the Andhra Pradesh government and the National Board of Examinations.

With the acquisition, MGM Healthcare now boasts over 1,000 beds within five years of launching its first hospital. The transaction was facilitated by the Resolution Professional, with Ernst & Young as the advisory partner.

News by Rahul Yelligetti