People Tree Hospital Secures 25 Million USD (₹220 Crores) Investment from BlackRock to Expand Existing Capacity to 400 Beds
Summary
Bengaluru-based People Tree Hospital secures 220 crore investment from BlackRock, the worlds largest asset management firm, to expand its capacity to 400 beds and transform Super specialty & Oncology care.This marks BlackRocks first foray into the Indian healthcare sector, facilitated through the People Tree Hospital platform.The investmentcomprising 220 crore in the first tranche enables further expansion and a promoter led buyout and seamless exit to early-stage investor & Infosys co-founder, Kris Gopalakrishnan.BlackRock has also made a commitment to invest another 210 crore as a green shoe option in the second tranche taking the total funding to 430 Crores or 50 Million USD.This will drive expansion, operational growth, and the development of cutting-edge super-specialty and oncology care in India.This investment from BlackRock will enable the hospital to expand by an additional 250 beds which will support specialties including Oncology, Radiation Oncology, PET-CT, Heart, Lung, and Liver Transplants, as well as Hematology & Bone Marrow Transplants, said Dr. Jothi Neeraja, MD & CEO of People Tree Hospitals.Future Plans include a 200-bed super-specialty hospital in a prime location at KR Puram, along with a projected expansion of total bed capacity from 300 to 800 across Bengaluru within the next 23 years, said Dr. Upendra Kandluri.Founded by Dr. Jothi Neeraja and Dr. Upendra Kandluri, People Tree Hospital stands as a beacon of promoter-owned assets, ensuring both scalability and stability. Ltd., rooted in the founding familys vision.With an MBA in Healthcare from Johns Hopkins University, USA, Dr. Abhishek Kandluri drives business development, strategic growth, and expansion. The hospital is EBITDA-positive, and this investment validates our credibility while driving the next chapter of innovation and growth," said Dr. Upendra Kumar Kandluri, who spearheaded the BlackRock partnership.The promoters also operate Maarga, a psychiatric care unit & mental health wellness center in Yelahanka and is set to expand from 40 beds to a state of the art 100 beds. Expansion of more units & beds are planned to meet the increasing demand for mental healthcare.The debt funding, structured through Non-Convertible Debentures (NCDs) on the Bombay Stock Exchange (BSE), ensures operational autonomy for the promoters. The secretarial services were provided by Chota CFO, while Seven Mountains served as the investment banker.With a 12-year legacy, People Tree Hospital is synonymous with great quality, patient-centric care.