Hospital chain Krishna Institute of Medical Sciences Ltd (KIMS) on Monday (February 17) said it has entered into an operations and management agreement with Ushahkal Abhinav Institute of Medical Sciences (UAIMS Hospital), Sangli, Maharashtra, for an initial term of seven years, extendable by another three years.
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Under the agreement, KIMS will have the exclusive right to provide medical services for the hospital’s current and future operations.
UAIMS, founded in 2022, is a state-of-the-art quaternary care facility with an existing capacity of 316 beds, with potential expansion to 500+ beds. It has the latest medical infrastructure, including CT, MRI and 15 state-of-the-art operation theatres and a dedicated mother and child care facility spread across an entire floor.
Spanning four acres, it has one of the highest floor-area-to-bed ratios in the region. UAIMS has a focus on critical care and more than 100 critical care beds are available with advanced medical infrastructure.
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UAIMS has also announced the launch of a comprehensive daycare oncology centre adjacent to the hospital. This facility is currently under construction and is expected to be operationalised in 2025. KIMS will oversee the hospital’s full management, operations, and service delivery under the KIMS-UAIMS brand.
As part of the agreement, KIMS will receive 9% of the hospital’s net revenue. Additionally, KIMS and its affiliates will have the first right of refusal (ROFR) to acquire profit-sharing from existing partners during the contract period. KIMS also retains a call option to acquire a majority profit share in UAIMS, at its discretion.
In Maharashtra, KIMS began its expansion by acquiring Kingsway Hospital in Nagpur in 2022, followed by the launch of its second hospital in Nashik in 2024. Additionally, KIMS has announced a 300-bed multi-speciality hospital in Thane, set to commence operations in the first quarter of the next financial year.
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Dr Bhaskar Rao, Chairman and Managing Director, said, “Maharashtra is an important market for us. Our foray into Sangli signifies our commitment to bring our trusted affordable, advanced and accessible healthcare model to more geographies of Maharashtra. We will continue to look for a mix of greenfield and brownfield strategies for ramping up our presence in Maharashtra.”
Shares of Krishna Institute of Medical Sciences Ltd ended at ₹558.70, down by ₹22.40, or 3.85%, on the BSE.
