Shamsheer Vayalil, son-in-law of lulu Group founder MA Yuzuf Ali and founder of VPS Healthcare Group and the 94th richest Indian in the Forbes’ 2017 rich list, has lined up a Rs 1,000-crore war-chest to cash in on takeover opportunities in the domestic healthcare market.
The over $1-billion Abu Dhabi-based VPS Healthcare Group is an integrated healthcare provider with primary, secondary and tertiary care hospitals and clinics as well as drug manufacturing and pharma retailing, in the Gulf region, India and Europe. The group runs four hospitals in the country now -- three in Delhi-NCR region and one in Kochi and wants to add at least three-four over the next one year or so.
Since its inception in 2007, VPS has grown into one of the UAE’s premier integrated healthcare groups and currently owns 22 hospitals under 13 brands, over 125 medical centres and employs 13,000, including over 1,800 doctors. The group runs four facilities in the country - three in the Delhi-NCR region under the VPS Rockland label (Qutub area and Dwarka in the Capital and one at Manesar in Haryana), and VPS lakeshore Hospital in Kochi.
“We’ve set aside Rs 1,000 crore for acquisitions in the country. We are in talks with three-four hospital and over the next one year, we should have at least three more hospitals here,” Vayalil said from his Abu Dhabi headquarters. The group has already invested over Rs 1000 crore in these two hospital brands in the country.
“We’ve already pumped over Rs 750 crore into the 800-bed Rockland Hospital chain in which we own 100 per cent and around Rs 300 crore into the 600-beds Kochi facility where we own 60 per cent stake,” the Kozhikode-born Vayalil said.