S&R, Saraf guide IHH's Fortis-Gleneagles hospital management tie-up in evolving Indian healthcare market
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S&R Associates represented Malaysia-headquartered IHH Healthcare Berhad , in the strategic collaboration between its Indian subsidiaries Fortis Healthcare Limited and Gleneagles Healthcare India , pursuant to which Fortis will manage the operations of five hospitals in the Gleneagles India network under an operation and maintenance services agreement. Saraf and Partners advised Fortis on the deal.The transaction reflects broader sectoral trends driving India's healthcare M&A activity , which saw deal volumes surge in H1 2025 despite a slight dip in total value. Private players are planning significant bed additions with a capital outlay of approximately INR 32,500 crore over five years, with particular focus on tier-2 and tier-3 city expansion and single-specialty hospitals in oncology, nephrology, and fertility.This collaboration leverages IHH Healthcare Berhad's global integrated healthcare expertise with Fortis's established Indian market presence, positioning both entities to capitalize on India's expanding healthcare demand. The deal aligns with the domestic hospital sector's leadership in healthcare deal activity, as operators seek operational efficiencies and geographic expansion.S&R Associates' team was led by partners Rajat Sethi and Raya Hazarika, along with associate Stuti Dhundia. Head of competition practice Simran Dhir, partner Akshat Kulshrestha and associates Prerana De, Sehaj Mahajan and Ritik Mohapatra provided competition law advisory. Partner Niti Dixit advised on litigation aspects.Saraf's transaction team led by senior partner Vaibhav Kakkar, partners Sahil Arora and Debarpan Ghosh. Partner Akshayy S Nanda's competition team assisted with regulatory compliance matters.
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