Dr. Shetty’s Narayana Health acquires U.K.’s Practice Plus Group Hospitals for ₹2,200 crore

Dr. Devi Shetty-promoted Narayana Hrudayalaya, which owns and operates Narayana Health network, on Friday said it acquired U.K.-based Practice Plus Group Hospitals in a £188.78 million (₹2,200 crore) deal.

Under this all-cash transaction, Narayana Hrudayalaya U.K., a wholly owned subsidiary of Health City Cayman Islands, would acquire 100% of the equity shares of Practice Plus Group Hospitals, as per a regulatory filing by Narayana Hrudayalaya in India.

The acquisition signals Bengaluru-based Narayana Health’s entry into the U.K. healthcare market, where Practice Plus Group operates 12 hospitals and surgical centres, specialising in high-quality orthopaedics, ophthalmology and general surgeries. The strategic acquisition extends Narayana Health’s global reach, placing the company among the top three healthcare providers in India by revenue, the firm said in a statement.

Practice Plus Group of hospitals, according to the commmuniquie, is the 5th largest private hospital group in the U.K., performing around 80,000 surgeries a year. Through this acquisition, Narayana Health has gained access to the U.K. healthcare market, where demand for surgeries, especially in the private sector, was projected to grow significantly in the coming years, it said.

Dr Devi Prasad Shetty, Founder and Chairman of Narayana Health, said, “The acquisition of Practice Plus Group hospitals and surgical centres is an incredibly exciting step for Narayana Health,’’ adding that, “Like Narayana Health, Practice Plus Group recognised that the majority of patients were struggling to access healthcare, while only a minority could afford costly private healthcare. We have both been working to meet the demands of those in between, and to offer a new choice of more accessible private healthcare.’’

“Dr. Shetty and Narayana Health have an enviable reputation for high quality, efficient healthcare with a human touch and I’m excited about what Practice Plus Group’s hospitals and surgical centres can achieve with the commitment and expertise of Narayana Health behind us,’’ said Mr. Jim Easton, Practice Plus Group Chief Executive.

Practice Plus Group, is one of the U.K.’s largest independent providers to the NHS with three divisions: Secondary Care, Integrated Urgent Care (NHS 111), and Health in Justice (healthcare in prisons and immigration removal centers). It is owned by Bridgepoint, a leading private market growth investor with $86 billion in assets under management, as per a BSE filing.