HCAH has acquired Nightingales Home Health Services, in a share swap deal. The acquisition will further increase HCAH’s geographic footprint in the country. With this acquisition, Nightingales’ Co-Founder and industry stalwart – Vishal Bali (Ex- Group CEO, of Fortis Healthcare Ltd and Senior Advisor – of TPG Growth) will join HCAH as a shareholder.
This acquisition reinforces HCAH’s position as the country’s largest out-of-hospital care provider in terms of annual revenue size and adds to its vision of improving the quality of life of people.
Nightingales Home Health Services brings over two decades of experience and a strong focus on specialty home health care services in chronic diseases including pulmonology, cardiology, neurology, metabolic diseases, orthopedics, geriatrics, and post-operative rehabilitation.
Nightingales comes with a team of over 1,000 healthcare professionals, and an established delivery network across 4 metro cities of Bengaluru, Hyderabad, Chennai, and Mumbai. While speaking about the acquisition Vivek Srivastava, Co-Founder and CEO of HCAH said, “We are committed to providing world-class services in out-of-hospital healthcare to our patients with a specialised focus on rehabilitation – both restorative and geriatric – through our transition care centres and home care services. Our recent acquisition of Nightingales is a testament to this commitment. Both HCAH and Nightingales are aligned in their goals to provide access to high- quality out-of-hospital care across the country. Nightingales has a 20-year history of building a highly-skilled, specialised home healthcare delivery network, which we believe will play a significant role in helping us provide a comprehensive range of services to our customers.”
Further adding to this, Ankit Kumar Goel, Chief Strategy and Product Officer, HCAH, said, “Our strategy is to go deep rather than wide and we want to be the largest player in the markets we operate. This acquisition has ensured the same for our key markets. It has also shattered the notion that we are a North India-centric company. Now we are larger in the South than in the North.”
Vishal Bali, Co-Founder and Chairman, Nightingales Home Healthcare, conveying his view on this acquisition said, “We are delighted to partner with Vivek and his team at HCAH and the competencies they bring to create India’s largest out-of-hospital care provider. The combined entity of HCAH & Nightingales brings multiple synergies to consolidate, strengthen and lead the out-of-hospital care vertical in the Indian healthcare delivery sector. We expect that the scale and size achieved through this integration will lead health insurance companies to create new products which will support patients to receive out-of-hospital care.”
HCAH has been constantly endeavouring to meet the increasing demand for specialised out-of- hospital care in India’s health rehab market, which is sized at $17 bn according to a Redseer report, and estimated to grow at a CAGR of 15.5% reaching $35 bn by FY2028. HCAH will continue to seek synergistic opportunities and targeted acquisitions of critical healthcare assets across the region to further its work on building a technology-enabled out-of-hospital healthcare ecosystem across the country and overseas.
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