MGM Healthcare Acquires SevenHills Hospital in Vizag Through Insolvency Process.

MGM Healthcare, a multi-specialty quaternary-care group, has acquired the 300-bed SevenHills Hospital in Visakhapatnam for an undisclosed amount. This acquisition marks the Chennai-based group’s first expansion outside its home city.

The purchase was made through MGM's participation in the Corporate Insolvency Resolution Process (CIRP) of SevenHills Healthcare Private Ltd, according to a company statement.

Founded in 1988, SevenHills Hospital is one of the oldest multi-speciality hospitals in Visakhapatnam. It entered CIRP proceedings in March 2018, initiated by Axis Bank under the Insolvency and Bankruptcy Code (IBC), and overseen by the National Company Law Tribunal’s (NCLT) Amaravati bench in Hyderabad. SevenHills also operates a 1,500-bed hospital in Mumbai.

“By joining forces with SevenHills, a respected institution with a deep-rooted legacy in Visakhapatnam, we’re poised to serve patients in Vizag and from the neighbouring states of Telangana, Odisha, and Chhattisgarh,” said Dr. Prashanth Rajagopalan, Director of MGM Healthcare.

SevenHills employs over 100 doctors and 700 staff members, offering preventive and curative care across major specialties such as cardiac care, emergency and critical care, medical and gastroenterology, nephrology, urology, cosmetic care, neurology, neurosurgery, and organ transplantation.

The hospital features an in-house nursing college and training facility accredited by the Andhra Pradesh government and the National Board of Examinations, which conducts Diplomate of National Board programs in Anaesthesiology and General Surgery.

As a tertiary care facility, SevenHills provides care for more than 100,000 patients annually and holds accreditations from both NABH and NABL. The hospital reported revenues of over ₹100 crore in FY24.

With this acquisition, MGM Healthcare Group has achieved a milestone of over 1,000 beds within five years since its first hospital launch.

The acquisition was completed with the assistance of the Resolution Professional, and Ernst & Young acted as the advisory partner.

HBL