Indian healthcare chain Krishna Institute of Medical Sciences (KIMS) has marked its entry into the state of Kerala by signing a 25-year lease, as well as an operations and management agreement, with Sree Chand Specialty Hospital.
The agreement, which is effective from 1 October 2024, has been finalised through KIMS's subsidiary, KIMS Swastha, and aims to expand the healthcare group's presence in the region.
As per the agreement, KIMS will pay 5% of the total net revenue of the hospital, with a minimum guarantee of Rs2.5m ($29,775) per month.
Established in 2020 in Kannur, Kerala, Sree Chand Specialty Hospital currently has a total of 189 beds, six operating theatres, and one catheterisation lab.
Following the latest signing, the hospital will be rebranded as KIMS Sreechand Specialty Hospital and will undergo significant upgrades.
The facility's expansion will transform it into a 350-bed quaternary care unit, featuring advanced medical technologies and focusing on transplants, comprehensive cancer care, and robotic surgeries.
As part of the expansion, KIMS has appointed Arjun Vijayakumar, previously with Aster Hospitals, as the regional finance head to manage the operations in Kerala.
Sree Chand Hospital director Anup Kallalathil said: “We are delighted to partner with a renowned group like KIMS.
“This collaboration will undoubtedly elevate the quality of care and services provided to patients.”
KIMS is also set to induct various clinicians and management personnel to strengthen its team and services in Kerala.
The rebranded KIMS Sreechand Specialty Hospital is expected to establish new standards of healthcare excellence in the state, the healthcare chain stated.
KIMS Hospitals director and CEO Dr Abhinay Bollineni said: “We are thrilled to introduce KIMS Hospitals’ high standard of care to Kerala.
“This enhancement at the Sree Chand facility marks the beginning of our broader expansion plans across the state, following the preferred Asset Light model.”
Founded by Dr B Bhaskara Rao, KIMS Hospitals is a corporate healthcare group headquartered in Hyderabad, India.
With this expansion, KIMS aims to bolster its network, which currently includes 12 hospitals and 3,975 beds across the states of Andhra Pradesh, Telangana, and Maharashtra, offering healthcare services in more than 40 specialities and super specialities.
