Narayana Hrudayalaya, the prominent healthcare network spearheaded by Dr. Devi Shetty, officially announced its acquisition of U.K.-based Practice Plus Group Hospitals. This significant deal, valued at a substantial £188.78 million (approximately ₹2,200 crore), marks a major international expansion for the Indian healthcare provider.
The acquisition was executed as an all-cash transaction, with Narayana Hrudayalaya U.K., a fully owned subsidiary of Health City Cayman Islands, purchasing 100% of Practice Plus Group Hospitals’ equity shares. This detail was confirmed through a regulatory filing submitted by Narayana Hrudayalaya in India.
This strategic move signifies Bengaluru-headquartered Narayana Health’s grand entry into the vibrant U.K. healthcare sector. Practice Plus Group currently manages 12 hospitals and specialized surgical centers, renowned for their expertise in orthopaedics, ophthalmology, and general surgeries. According to a company statement, this acquisition dramatically broadens Narayana Health’s global presence, solidifying its position among India’s top three healthcare providers by revenue.
The Practice Plus Group stands as the fifth-largest private hospital chain in the U.K., reportedly performing approximately 80,000 surgeries annually. This acquisition grants Narayana Health a crucial foothold in the U.K.’s burgeoning healthcare market, where the demand for surgical procedures, particularly within the private sector, is anticipated to see substantial growth in the foreseeable future.
Dr. Devi Prasad Shetty, the visionary Founder and Chairman of Narayana Health, expressed his enthusiasm about the deal: “The acquisition of Practice Plus Group hospitals and surgical centres represents a truly exciting milestone for Narayana Health.” He further elaborated on the shared vision: “Both Narayana Health and Practice Plus Group recognized the widespread challenge of healthcare access for most patients, contrasting with the limited few who could afford expensive private services. Our collective mission has been to address the needs of this middle segment, providing a fresh alternative of more accessible private healthcare options.”
Mr. Jim Easton, Practice Plus Group Chief Executive, also shared his optimism, stating, “Dr. Shetty and Narayana Health are widely respected for their high-quality, efficient healthcare services delivered with a genuine human touch. I am incredibly excited to see the potential that Practice Plus Group’s hospitals and surgical centres can unlock with Narayana Health’s unwavering commitment and profound expertise supporting us.”
It’s important to note that Practice Plus Group is a significant independent provider to the NHS in the U.K., organized into three key divisions: Secondary Care, Integrated Urgent Care (including NHS 111 services), and Health in Justice (delivering healthcare within prisons and immigration removal centers). The group was previously owned by Bridgepoint, a prominent private market growth investor boasting an impressive $86 billion in assets under management, as disclosed in a BSE filing.