In its first private equity fund raise, Hyderabad Institute of Oncology Private Limited (Omega Hospitals) raised ₹500 crore from a fund managed by Morgan Stanley Private Equity Asia.
This significant investment will support Hyderabad-based Omega Hospitals in its ambitious plans to expand its presence across multiple states. It is India’s second largest cancer-focused hospital chain, with 10+ hospitals across multiple cities, 1,400+ bed capacity, and industry-leading metrics.
“With the increasing incidence of cancer in recent years, our mission is to deliver high-quality, full-service cancer care offerings in India. This partnership with Morgan Stanley PE Asia will help us accelerate this journey, and we are excited to build Omega Hospitals into India’s largest cancer care chain in the next few years,” Mohan Vamsy, Managing Director, Omega Hospitals said in a release.
Namrata, Chief Executive Officer of Omega Hospitals, said: “This investment will enable us to expand our footprint across India, enhance our existing facilities, and establish new hospitals, thereby providing advanced healthcare services to a larger segment of the Indian population.”
According to Haragovind, President of Omega Hospitals, the company plans to grow the business through a combination of organic expansion and inorganic acquisitions across the markets.
“From an Asia perspective, we are seeing a significant opportunity in the Indian single specialty hospital space. This will mark our second investment in an Indian cancer hospital chain within a span of 12 months. Omega has a strong brand presence in Andhra Pradesh and Telangana, which is synonymous with quality cancer care, reputed doctors, and state-of-the-art infrastructure,’‘ Arjun Saigal, Managing Director and Co-head of Morgan Stanley PE Asia, said.
This capital will help the company expand its footprint across the twin states of Telangana and Andhra Pradesh, as well as neighbouring states such as Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and West Bengal. This expansion will help Omega Hospitals consolidate its dominant position in South India and expand pan-India, the release added.