Indian hospital chain Narayana Health eyes international expansion

By Rishika Sadam

Jan 14 (Reuters) – India’s Narayana Hrudayalaya plans to expand into select Western markets, exporting its low-cost healthcare model as it continues to scale operations at home, a senior executive said.

The Bengaluru-based chain, also called Narayana Health, was established in 2000 by renowned cardiac surgeon Devi Shetty.

The group, which counts cardiac services as its largest segment, is considering future forays into parts of the Caribbean, Europe and other developed markets, Group Chief Financial Officer Sandhya J told Reuters in an interview.

“We’re looking at markets where there is a stable rule of law and where other private players have been able to operate and create a mark,” she said on Tuesday.

Narayana Health has a facility in the Cayman Islands and acquired the UK’s Practice Plus Group Hospitals last year, facilitating its entry into the UK.

“At the moment, we will only focus on doubling down and making the UK (investment) successful for us…,” she said, adding that the group will look out for further international expansion after its UK unit is strengthened.

The company operates over 5,900 beds and plans to add 2,000 more in India over the next three years. This domestic expansion involves an investment of 30 billion rupees ($332.61 million).

Narayana competes with Apollo Hospitals, which has a capacity of over 10,000 beds and plans to add 3,600 more over five years.

Manipal Health Enterprises has also grown its capacity to approximately 12,600 beds.

For fiscal 2025, Narayana Health reported a 12.1% rise in revenue to 54.83 billion rupees ($608.30 million). Its CFO expects similar organic growth next year.

Apollo reported revenue of 217.94 billion rupees for the year ending March 2025.

($1 = 90.1960 Indian rupees)

(Reporting by Rishika Sadam; Editing by Nivedita Bhattacharjee)