business

MGM Healthcare acquires Vizag based SevenHills Hospital

On Jul 12, 2024 By The Hindu Bureau

MGM Healthcare has expanded its footprint in Visakhapatnam by participating in the Corporate Insolvency Resolution Process of SevenHills Healthcare Pvt. Ltd.

“MGM Healthcare’s strategic acquisition of SevenHills Hospital marks our first foray outside Chennai and is a milestone in our vision of expanding access to quality, affordable and personalised healthcare,” MGM Healthcare Director Prashanth Rajagopalan said in a statement.

Founded in 1988, SevenHills is one of the oldest multi-specialty hospitals in Vizag. It has 300 beds and a team of over 100 doctors and 700 staff. It recorded a revenue of over 100 crore in FY24.

Post acquisition, MGM Healthcare Group now has over 1,000 beds. It is poised to serve patients in Vizag and from the neighbouring States of Telangana, Odisha, and Chhattisgarh.

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