HCAH, an out-of-hospital healthcare provider, on Thursday said that it has acquired Nightingales Home Health Services, a specialty home healthcare service provider, in a share swap deal.
According to the company’s statement, 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, Fortis Healthcare Ltd and Senior Advisor – 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, it added.
“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,” the company said in a statement.
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.
“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,” Vivek Srivastava, Co-founder and CEO of HCAH said in a statement.
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, it claimed.
