Company lists
The India edition · 2026

Hospital chainscompanies in India

Multispecialty, eye care, maternity & fertility, cancer & specialty care, ayurveda & alternative and more: the companies building hospital chains in India, with their founders, funding, team size and business models.

470 company profiles205 with reported revenue36 with recorded fundingSeptember 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 4.0)

Recent hospital chains business events in India

Funding, M&A, contract wins and launches involving 566 hospital chains companies in India, last 24 months: 65 M&A deals · 12 funding rounds · 3 Contracts · 1 Launch. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

FundingSecondary

Marengo asia healthcare

Marengo Asia Healthcare, the hospital platform backed by Samara Capital and the family offices of the Havells and Godrej groups, is seeking to raise ₹400-500 crore, with LeapFrog…

Healthcare
M&AAcquisition · Completed

Max Healthcare Institute acquires Kalinga hospital

Max Healthcare Institute has successfully acquired a 58.28% controlling stake in Kalinga Hospital Ltd. (KHL) for an aggregate consideration of approximately ₹297.97 crore.

Healthcare
FundingRights issue

Baby memorial hospital

KKR has pumped ₹1,750 crore in Baby Memorial Hospital by way of a rights issue as it positions the Kozhikode-based healthcare player for a larger region-wide footprint, according to…

Investors Kkr
Healthcare
M&AAcquisition · Announced

Max Healthcare Institute acquires Kalinga hospital

Max Healthcare Institute (MHIL) has entered into a share purchase agreement (SPA) to acquire controlling stake in Kalinga Hospital (KHL) from Hospital Corporation of Orissa Inc. Under…

Healthcare
M&AAcquisition · Announced

Cloudnine hospitals acquires Apollo Cradle & Children's Hospital Ltd (ACCHL)

Cloudnine Hospitals, is reportedly in advanced talks to acquire Apollo Cradle & Children's Hospital Ltd (ACCHL) in a deal valued at approximately ₹1,500 crore.

Maternity and infant care
M&AAcquisition · Announced

Jupiter hospital acquires SevenHills Healthcare

Jupiter Hospital are vying to acquire SevenHills Healthcare.

Healthcare
M&AAcquisition · Completed

Somerset indus capital partners acquires Nu hospitals

Lakshmikumaran & Sridharan Attorneys acted as legal advisor to NU Hospitals Private Limited, its promoters, and certain non-promoter selling shareholders in connection with a significant…

Healthcare
M&AAcquisition · Announced

Fortis healthcare acquires People Tree Hospital

Fortis Healthcare: Shares of Fortis Healthcare will be in focus on Monday, December 22, after the company inked a pact to acquire Bengaluru-based People Tree Hospital for ₹430 crore.

M&AAcquisition · Announced

Fortis healthcare acquires TMI Healthcare

Fortis has entered into definitive agreements to acquire TMI Healthcare, which owns the 125-bed People Tree Hospital, along with the underlying hospital land and an adjacent land parcel,…

M&AAcquisition · Completed

Narayana hrudayalaya acquires Practice Plus Group Hospitals

Narayana expanded its global footprint by completing the acquisition of the Practice Plus Group Hospitals in the UK on 6 November at an enterprise value of GBP 183 million.

Healthcare / Hospitals
M&ACompleted

Societe generale acquires Max Healthcare Institute

Societe Generale bought 92,289 equity shares in Max Healthcare Institute at Rs 1,095.4 per share, the transaction valued at Rs 10.1 crore, while BNP Paribas Financial Markets offloaded…

Healthcare
M&ACompleted

Morgan stanley asia acquires Fortis healthcare

Morgan Stanley Asia (Singapore) acquired 5.09 lakh shares in Fortis Healthcare via a block deal at an average price of Rs 975.4 per share, valued at Rs 49.67 crore, from UBS AG.

Healthcare
M&AAcquisition · Completed

Northern TK Venture Pte Ltd acquires Fortis healthcare

IHH (via NTK) will hold 235,295,895 Fortis shares , representing 31.17% of Fortis' share capital.

Healthcare
M&AAcquisition · Announced

Manipal Health Enterprises Ltd acquires Sahyadri hospitals

The company, which had planned to file for its IPO by June this year, had to delay its filing after agreeing to acquire Sahyadri Hospitals from Ontario Teachers' Pension Plan (OTTP) for…

Healthcare
Funding

Manipal group

"KKR's insurance business is supported by the Global Atlantic Financial Group, which KKR took over in January last year. This unit made its first investment in India, when KKR financed…

Investors Kkr
M&AAcquisition · Announced

Narayana health acquires Practice plus group

Narayana Health is betting on operational efficiency, digital integration, and a shift in UK healthcare dynamics to turn around its Rs 2,135 crore (£183 million) acquisition of Practice…

Healthcare - Private healthcare network
Funding

The eye foundation

The Eye Foundation, a leading eye care chain in South India headquartered in Coimbatore, has raised $75 million ( ₹650 crore) funding from consumer-focused investment firm Verlinvest in…

Investors Verlinvest
Healthcare - Eye Care
M&AAcquisition · Completed

Temasek acquires Sahyadri hospitals

"Temasek ... recently acquired Sahyadri Hospitals"

Healthcare
M&AAcquisition · Announced

Cloudnine hospitals acquires Apollo Cradle and Children’s Hospital

Cloudnine Hospitals, one of India’s leading maternity and paediatric care chains, is in advanced talks to acquire Apollo Cradle and Children’s Hospital (ACCHL) in a deal valued at around…

Healthcare
M&AAcquisition · Completed

Asg eye hospitals acquires Vasan Healthcare

Following the fundraise, ASG acquired south India-based Vasan Healthcare in 2023, adding 150 hospitals to its network.

Eye care
M&AMerger · Announced

Asg eye hospitals acquires Sharp sight eye hospitals

ASG Eye Hospitals, backed by private equity firms General Atlantic and Kedaara Capital, has signed a Rs 450 crore non-binding merger deal with Sharp Sight Eye Hospitals, said people…

Eye care
M&AAcquisition · Completed

Singapore government's investment arm acquires Cloudnine hospitals

The Singapore government's investment arm also bought an about 20% stake in Bengaluru-based Cloudnine Hospitals for around $125 million last year.

Hospital
M&AAcquisition · Pending

Manipal hospitals acquires Sahyadri hospitals

The proceeds raised from the investors will be utilised by MHPL for the acquisition of shares of Sahyadri Hospitals Private Limited (SHPL). This acquisition follows a much-awaited…

Healthcare
M&AAcquisition · Completed

Baby memorial hospital acquires Chazhikattu Multi Speciality Hospital

This builds on its acquisition last year of the 350-bed Chazhikattu Multi Speciality Hospital at Thodupuzha

Healthcare
M&AAcquisition · Announced

Apollo hospitals enterprise acquires Apollo health and lifestyle

Shares of Apollo Hospitals Enterprise Ltd. are in focus on Monday, September 15, after the company said it will buy IFC's 30.8% stake in its subsidiary Apollo Health and Lifestyle for…

M&AAcquisition · Announced

Novo holdings acquires Surya hospitals

Novo Holdings, a 142 billion euro investment firm that controls drug maker Novo Nordisk, has entered into exclusive talks to acquire a 49% stake in Mumbai-based Surya Hospitals, said…

Hospital
M&AAcquisition · Announced

Yatharth Hospital & Trauma Care acquires Shantived Institute of Medical Sciences

Yatharth Hospital & Trauma Care Services Ltd (NSE: YATHARTH, BSE: 543950) ended Friday’s trading session on a weaker note, sliding more than 3% despite unveiling a significant expansion…

Healthcare
ContractInfrastructure

Rr lifesciences · client: Fortis healthcare

Fortis Healthcare’s wholly owned subsidiary — International Hospital (IHL) has entered into a 15-year lease agreement with RR Lifesciences for an around 200-bed fully operational…

Healthcare
M&AMerger · Announced

Dr. Agarwal's Health Care acquires Dr. agarwal's eye hospital

The boards of Dr. Agarwal's Health Care and Dr. Agarwal's Eye Hospital have approved the merger of AEHL into AHCL.

Hospital chains companies in India, by revenue

Browse hospital chains companies in India by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 205 hospital chains companies in India that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Chain of multispecialty hospitals

Hospital chains
₹21,994.30 crFY 2024-25
+15%2024–2025
19,619+8% 12 mo to Mar 2024recorded Mar 2024
43 yr1983
0none in 3 months

Chain of multispeciality hospitals

Hospital chains
₹5,584.09 crFY 2023-24
Not reported
5,786-24% vs previous recordrecorded Aug 2024
41 yr1985
40postings · last posted Sep 2026

Chain of multi speciality hospitals

Hospital chains
₹4,590.21 crFY 2022-23
Not reported
9,805-1% 12 mo to Mar 2024LinkedIn · Jul 2026
26 yr2000
9postings · last posted Sep 2026

Chain of multi-speciality hospitals

Hospital chains
₹1,918.06 crFY 2024-25
+39%2024–2025
3,157+22% 12 mo to Sep 2023LinkedIn · Jul 2026
27 yr1999
8postings · last posted Sep 2026

Health system

Hospital chains
₹1,836.54 crFY 2024-25
+14%2024–2025
3,698+5336% vs previous recordLinkedIn · Jul 2026
31 yr1995
0none in 3 months

Chain of multi-specialty and perinatal care hospitals

Hospital chains
₹1,566.87 crFY 2024-25
+17%2024–2025
15+12% 12 mo to Mar 2024LinkedIn · Jul 2026
27 yr1999
0none in 3 months

Speciality hospital chain that provides women & childcare services

Hospital chains
₹1,442.32 crFY 2024-25
+17%2024–2025
1,850+14% 12 mo to Oct 2023recorded Oct 2023
16 yr2010
0none in 3 months

Chain of paediatrics hospitals

Hospital chains
₹1,314.21 crFY 2024-25
+14%2024–2025
1,963-1% 12 mo to Sep 2024recorded Sep 2024
11 yr2015
0none in 3 months

Chain of multispecialty hospitals

Hospital chains
₹1,151.02 crFY 2023-24
Not reported
1,963-1% 12 mo to Sep 2024recorded Sep 2024
20 yr2006
—No postings tracked

Chain of maternity, childcare and fertility hospitals

Hospital chains
₹961.33 crFY 2022-23
Not reported
5,153-43% 12 mo to Jul 2024recorded Jul 2024
19 yr2007
0none in 3 months

Chain of multispecialty hospitals

Hospital chains
₹902.96 crFY 2022-23
Not reported
715-58% 12 mo to Jun 2024recorded Jun 2024
19 yr2007
—No postings tracked

Chain of multi-specialty hospitals

Hospital chains
₹896.66 crFY 2024-25
+31%2024–2025
228+7% 12 mo to Sep 2024recorded Sep 2024
16 yr2010
0none in 3 months

Network of multispeciality hospitals

Hospital chains
₹876.25 crFY 2024-25
+24%2024–2025
1,845+5% 12 mo to Sep 2024recorded Sep 2024
16 yr2010
4postings · last posted Aug 2026

Chain of obstetrics & gynaecology hospitals

Hospital chains
₹764.64 crFY 2021-22
Not reported
4,540+16% 12 mo to Mar 2024recorded Mar 2024
19 yr2007
—No postings tracked

Healthcare provider offering world-class medical services and advanced treatments

Hospital chains
₹820.38 crFY 2024-25
+17%2024–2025
453LinkedIn · Jul 2026
6 yr2020
1postings · last posted Jul 2026

Standalone multispeciality hospital

Hospital chains
₹651.73 crFY 2024-25
+49%2024–2025
1,980-4% 12 mo to Feb 2024LinkedIn · Jul 2026
39 yr1987
0none in 3 months

Chain of multispeciality hospitals

Hospital chains
₹647.88 crFY 2024-25
+27%2024–2025
269-0% 12 mo to Sep 2024recorded Sep 2024
35 yr1991
13postings · last posted Aug 2026

Chain of multispeciality hospitals

Hospital chains
₹627.78 crFY 2024-25
+28%2024–2025
8+6% 12 mo to May 2024LinkedIn · Jul 2026
29 yr1997
0none in 3 months

Chain of multi speciality hospitals

Hospital chains
₹561.64 crFY 2024-25
Not reported
969+1% 12 mo to Sep 2024LinkedIn · Jul 2026
31 yr1995
0none in 3 months · last posted Apr 2026

Chain of oncology hospital

Hospital chains
₹485.58 crFY 2024-25
+21%2024–2025
637+16% 12 mo to Sep 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Chain of pediatrics & maternity hospitals

Hospital chains
₹483.03 crFY 2024-25
+28%2024–2025
943-26% 12 mo to Aug 2023LinkedIn · Jul 2026
15 yr2011
0none in 3 months

Chain of eye care hospitals

Hospital chains
₹456.14 crFY 2022-23
Not reported
1,536+358% 12 mo to Jun 2024LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Network of eye care hospitals

Hospital chains
₹458.50 crFY 2024-25
+25%2024–2025
66+5% 12 mo to Aug 2024LinkedIn · Jul 2026
29 yr1997
0none in 3 months

Chain of multi speciality hospitals

Hospital chains
₹429.70 crFY 2022-23
Not reported
1,035+5% 12 mo to Sep 2024LinkedIn · Jul 2026
19 yr2007
—No postings tracked

Chain of eye care hospitals

Hospital chains
₹401.22 crFY 2022-23
Not reported
1,337+1% 12 mo to Sep 2024LinkedIn · Jul 2026
19 yr2007
6postings · last posted Sep 2026
50 of 470 companies shown here · the full list is on Radar
Fliar Radar

Explore all 470 hospital chains companies in India on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open hospital chains in India on Radar
  • Every company, not just 50All 470 hospital chains companies in India, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
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Explore hospital chains companies in India by what you are looking for

Browse top hospital chains in India and big hospital chains in India, from multispecialty groups to single specialty networks. You can also see listed hospital chains in India and chains focused on eye care, fertility and oncology.

9 ways to explore hospital chains in India

Multispecialty hospital chainsEye care & ophthalmology hospital chainsMaternity, gynaecology & IVF hospital chainsCancer, cardiac & other specialty hospital chainsAyurveda & alternative therapy hospital chainsClinic chains, dental & cosmetic care providers

Multispecialty hospital chains

Large hospital groups offering many medical specialties under one brand.

  1. Apollo Hospitals

    Chain of multispecialty hospitals

    Hospital chains
    See in list
  2. Max Healthcare

    Chain of multispeciality hospitals

    Hospital chains
    See in list
  3. Narayana Health

    Chain of multi speciality hospitals

    Hospital chains
    See in list
  4. Medicover

    Health system

    Hospital chains
    See in list
  5. Paras Bliss

    Chain of paediatrics hospitals

    Hospital chains
    See in list

Eye care & ophthalmology hospital chains

Chains of eye hospitals and clinics.

  1. ASG Eye Hospitals

    Chain of eye care hospitals

    Hospital chains
    See in list
  2. Disha Eye Hospitals

    Network of eye care hospitals

    Hospital chains
    See in list
  3. The Eye Foundation

    Chain of eye care hospital

    Hospital chains
    See in list
  4. Trinity eye hospital

    Standalone tertiary care eye hospital

    Hospital chains
    Website
  5. Prakash Netra Kendr

    Chain of eye hospitals

    Hospital chains
    Website

Maternity, gynaecology & IVF hospital chains

Chains focused on women's health, childbirth and fertility treatment.

  1. Rainbow Hospitals

    Chain of multi-specialty and perinatal care hospitals

    Hospital chains
    See in list
  2. Motherhood

    Speciality hospital chain that provides women & childcare services

    Hospital chains
    See in list
  3. Paras Bliss

    Chain of paediatrics hospitals

    Hospital chains
    See in list
  4. Cloudnine

    Chain of maternity, childcare and fertility hospitals

    Hospital chains
    See in list
  5. Apollo Cradle

    Network of pediatric hospitals

    Hospital chains
    See in list

Cancer, cardiac & other specialty hospital chains

Hospital chains focused on oncology, heart care, neurology and other specialties.

  1. Rainbow Hospitals

    Chain of multi-specialty and perinatal care hospitals

    Hospital chains
    See in list
  2. Motherhood

    Speciality hospital chain that provides women & childcare services

    Hospital chains
    See in list
  3. Paras Bliss

    Chain of paediatrics hospitals

    Hospital chains
    See in list
  4. Cloudnine

    Chain of maternity, childcare and fertility hospitals

    Hospital chains
    See in list
  5. Omega Hospitals

    Chain of oncology hospital

    Hospital chains
    See in list

Ayurveda & alternative therapy hospital chains

Hospitals offering ayurveda, homeopathy and other alternative treatments.

  1. Eye-Q

    Chain of eye care hospitals

    Hospital chains
    Website
  2. Kerala Ayurveda

    Chain of complementary and alternative therapy hospitals

    Hospital chains
    Website
  3. Sreedhareeyam

    Chain of ayurveda ophthalmology hospital

    Hospital chains
    Website
  4. AVN Arogya

    Chain of Ayurveda hospitals

    Hospital chains
    Website
  5. Punarjan Ayurveda

    Cancer hospital that offers holistic cancer treatment using traditional ayurvedic methods

    Hospital chains
    Website

Clinic chains, dental & cosmetic care providers

Chains of clinics for dental, skin, cosmetic and general care.

  1. Eye-Q

    Chain of eye care hospitals

    Hospital chains
    Website
  2. Geri Care

    Provider of diversified home healthcare solutions for consumers

    Rehabilitation and long-term care
    Website
  3. Primecare Hospital

    Provider of healthcare services with primary care providers, qualified specialists, and a clinical team, including maternity and specialty care

    Hospital chains
    Website
  4. Sukoon

    Provider of inpatient and outpatient mental healthcare services

    Hospital chains
    Website
  5. Anu Test Tube Baby Centre

    Provider of assisted reproductive technologies, including IVF and fertility treatments

    Hospital chains
    Website

Hospital chain startups in India

Newer hospital and clinic chains founded in recent years.

  1. SeCURE Hospitals

    Multi-specialty hospital offering world-class services and high-tech surgical procedures

    Hospital chains
    Website
  2. K.M.C Hospital Karaikudi

    Diversified healthcare and education provider offering a range of services including medical care, education, and training

    Hospital chains
    Website
  3. Maple Hospital

    Provider of cardiac care and medical services

    Hospital chains
    Website
  4. House of Doctors

    Chain of multispecialty hospitals

    Hospital chains
    Website
  5. Praja Dental Hospital

    Chain of dental hospitals

    Hospital chains
    Website
32 companies in India

Listed hospital chains in India

Publicly listed hospital chains.

  1. Apollo Hospitals

    Chain of multispecialty hospitals

    Hospital chains
    See in list
  2. Max Healthcare

    Chain of multispeciality hospitals

    Hospital chains
    See in list
  3. Narayana Health

    Chain of multi speciality hospitals

    Hospital chains
    See in list
  4. Dr. Agarwal's Eye Hospital

    Chain of eye care hospitals

    Hospital chains
    See in list
  5. Shanmugahospital

    Multispecialty hospital providing comprehensive healthcare services

    Hospital chains
    Website
8 companies in India

Hospital chains hiring in India

Hospital chains with open roles right now.

  1. Max Healthcare

    Chain of multispeciality hospitals

    Hospital chains
    See in list
  2. Narayana Health

    Chain of multi speciality hospitals

    Hospital chains
    See in list
  3. Zydus Hospitals

    Network of multispeciality hospitals

    Hospital chains
    See in list
  4. Marengo Asia Healthcare

    Healthcare provider offering world-class medical services and advanced treatments

    Hospital chains
    See in list
  5. Centre for Sight

    Chain of eye care hospitals

    Hospital chains
    See in list
17 companies in India
Mobile reach

Top 10 hospital chains apps from India

The most-installed Android apps published by hospital chains companies headquartered in India — 4.8M installs between them. 69 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Max MyHealth -by Max Hospitals

by Max Healthcare

Installs2.1M
Rating3.198K ratings
Last updatedApr 2026
View on Google Play ↗
Max MyHealth -by Max Hospitals screenshot 1Max MyHealth -by Max Hospitals screenshot 2Max MyHealth -by Max Hospitals screenshot 3Max MyHealth -by Max Hospitals screenshot 4
3

Aster Health

by Aster

Installs499K
Rating—
Installs, year on year+500%
Last updatedMay 2026
View on Google Play ↗
Aster Health screenshot 1Aster Health screenshot 2Aster Health screenshot 3Aster Health screenshot 4Aster Health screenshot 5Aster Health screenshot 6
4

Motherhood Care

by Motherhood

Installs332K
Rating—
Installs, year on year+164%
Last updatedMay 2026
View on Google Play ↗
Motherhood Care screenshot 1Motherhood Care screenshot 2Motherhood Care screenshot 3Motherhood Care screenshot 4Motherhood Care screenshot 5Motherhood Care screenshot 6
5

Apollo Cradle & Fertility

by Apollo Cradle

Installs239K
Rating—
Installs, year on year+16%
Last updatedJan 2026
View on Google Play ↗
Apollo Cradle & Fertility screenshot 1Apollo Cradle & Fertility screenshot 2Apollo Cradle & Fertility screenshot 3Apollo Cradle & Fertility screenshot 4Apollo Cradle & Fertility screenshot 5Apollo Cradle & Fertility screenshot 6
7

mibPULSE

by Madhavbaug

Installs209K
Rating4.8112K ratings
Installs, year on year+11%
Last updatedSep 2025
View on Google Play ↗
mibPULSE screenshot 1mibPULSE screenshot 2mibPULSE screenshot 3mibPULSE screenshot 4mibPULSE screenshot 5
The business behind the activity

Hospital chains financials in India

Revenue, profit and growth from the filed annual accounts of 181 hospital chains companies in India for FY24-25 — 215 of the 470 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 45% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹40,928.00 cr

181 companies filing accounts

combined net profit₹3,803.06 cr

9.3% aggregate margin

are profitable75%

136 of 181 companies

median revenue~₹45.1 cr

the typical company

median revenue growth+10%

into FY24-25

earned by the top five45%

revenue concentration

Six-year view

Combined revenue of filing companies

₹21,508.19 crFY19-20167 filers
₹22,082.63 crFY20-21178 filers
₹24,815.55 crFY21-22181 filers
₹30,208.88 crFY22-23185 filers
₹36,614.34 crFY23-24195 filers
₹40,928.00 crFY24-25181 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 166 companies over three years

+31%
FY22-23₹28,498.43 cr₹2,893.82 cr net
FY23-24₹32,518.81 cr₹2,962.18 cr net
FY24-25₹37,427.64 cr₹3,516.63 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr757% profitable
₹1–10 cr3063% profitable
₹10–100 cr8976% profitable
₹100–1,000 cr4781% profitable
Over ₹1,000 cr888% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking42
0–20%91
20–50%35
50–100%5
Doubled+7

180 companies with accounts for both years; median growth +10%.

Profitability

Profit is concentrated at the top

136profitable
45loss-making
9.3%aggregate margin
4.1%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Aayush HospitalsAAYUSH GROUP OF HOSPITALS PRIVATE LIMITED
Dr Rani Menon MaxivisionDR. RANI MENON MAXIVISION EYE HOSPITALS PRIVATE LIMITED
SukoonSUKOON HEALTHCARE SERVICES PRIVATE LIMITED₹29.62 cr
Punarjan AyurvedaPUNARJAN AYURVEDA PRIVATE LIMITED+100%₹46.39 cr
Eye MantraEYE MANTRA HOSPITAL PRIVATE LIMITED+88%₹17.01 cr
Ankura HospitalANKURA MEDICAL & RESEARCH CENTRE PRIVATE LIMITED+79%₹301.79 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
MoolchandMOOLCHAND HEALTHCARE PRIVATE LIMITED55.1%₹30.51 cr
AsterASTER HOSPITALS PRIVATE LIMITED48.9%
Rela HospitalRELA HOSPITALS PRIVATE LIMITED
Eye7 HospitalsEYE 7 HOSPITALS PRIVATE LIMITED27.7%₹139.72 cr
KKR ENT Hospital and Research InstituteK.K.R.ENT HOSPITAL AND RESEARCH INSTITUTE PRIVATE LIMITED₹44.52 cr
Prakash Netra KendrPRAKASH NETRA KENDR PRIVATE LIMITED₹40.06 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Hospital chains176₹40,403.13 cr~₹44.6 cr76%9.5%
Leaders

Largest hospital chains companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Apollo HospitalsAPOLLO HOSPITALS ENTERPRISE LIMITED₹8,549.80 cr₹1,296.30 cr15.2%+15%
Narayana HealthNARAYANA HRUDAYALAYA LIMITED₹3,732.28 cr₹431.14 cr11.6%+10%
Max HealthcareMAX HEALTHCARE INSTITUTE LIMITED₹3,030.14 cr₹701.07 cr23.1%+16%
Kauvery HospitalSRI KAUVERY MEDICAL CARE (INDIA) LIMITED₹1,691.25 cr₹56.10 cr3.3%+42%
MedicoverSAHRUDAYA HEALTH CARE PRIVATE LIMITED₹1,567.50 cr−₹199.88 cr-12.8%+19%
Rainbow HospitalsRainbow Children's Medicare Limited₹1,503.46 cr₹237.59 cr15.8%+18%
Paras Hospitals, Paras BlissParas Healthcare Limited₹1,175.37 cr₹3.22 cr0.3%+12%
Jupiter HospitalJUPITER LIFE LINE HOSPITALS LIMITED₹1,088.14 cr₹184.70 cr17.0%+16%
Zydus HospitalsZYDUS HOSPITALS AND HEALTHCARE RESEARCH PRIVATE LIMITED₹876.25 cr₹126.84 cr14.5%+24%
Wockhardt HospitalsWOCKHARDT HOSPITALS LIMITED−₹8.98 cr-1.2%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Accounting and Tax Software Industry Landscape of India

The financials above are one chapter. The full hospital chains landscape of India maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the hospital chains landscape of India
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Hospital chains funding and M&A across India

179 recorded equity rounds have gone to 566 hospital chains companies in India — how much, at which stage, into which sub-sectors, from whom, and how India compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months5

US$83.50m

equity rounds, last 24 months14

US$157.68m

raised over five yearsUS$925.42m

68 rounds in India

M&A deals, India65

last 24 months

Capital by year

Equity funding into hospital chains in India

amount rounds
$57m201812
$24m201913
$5.7m202011
$452m202117
$33m202215
$126m202313
$180m202413
$136m20259
$020261

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$451.67m across 17 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$11.84m17 rounds · median US$279k
SeedUS$22.65m12 rounds · median US$1.77m
Series AUS$190.67m18 rounds · median US$6.00m
Series BUS$51.28m10 rounds · median US$1.46m
Series CUS$172.03m3 rounds · median US$57.03m
Series D+US$379.39m3 rounds · median US$85.04m
Private equityUS$97.55m5 rounds · median US$15.49m
Where the money went · five years

Most-funded sub-sectors

Hospital chainsUS$908.75m64 rounds · 31 companies
Rehabilitation and long-term careUS$14.68m2 rounds · 1 companies
HospitalsUS$1.98m2 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

59Acquisition
4Merger
2Completed

Most active acquirers

  1. Fortis healthcare6
  2. Manipal hospitals6
  3. Max healthcare5
  4. Apollo hospitals enterprise5
  5. Narayana hrudayalaya4

Most acquired or merged

  1. Sahyadri hospitals10
  2. Fortis healthcare3
  3. Mahatma gandhi cancer hospital & research institute3
  4. Kalinga hospital2
  5. Apollo health and lifestyle limited2

Each deal appears in the events strip at the top of the page.

Hospital chains funding in India

36 hospital chains companies in India have recorded equity funding, US$714.85m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in India

Meet the people behind hospital chains companies in India. 276 of 470 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore India hospital chains companies by sub-sector

The most common specialisations among hospital chains companies in India. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring hospital chains in India and nearby markets.

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