In a strategic move to expand its healthcare footprint, Unaprime Healthcare has acquired an 84.5% majority stake in Lokmanya Hospitals, a prominent multi-specialty hospital chain headquartered in Pune, Maharashtra. The acquisition is part of Unaprime’s ambitious plan to establish itself as a formidable player in India’s rapidly consolidating healthcare sector.
Key Deal Highlights
| Parameter | Details |
|---|---|
| Acquirer | Unaprime Healthcare |
| Target | Lokmanya Hospitals |
| Stake Acquired | 84.5% |
| Deal Structure | Majority buyout; cash and equity mix |
| Region | Maharashtra (Pune, Kolhapur) |
| Hospitals Under Lokmanya | 5 multi-specialty hospitals |
| Total Bed Capacity | ~750 beds |
| Acquisition Objective | Market share expansion in Western India and scaling trauma care excellence |
| Closing Date | July 3, 2025 |
About Lokmanya Hospitals
Lokmanya Hospitals is one of the leading healthcare providers in Maharashtra, renowned for its:
- Advanced orthopaedic and trauma care services.
- Multi-specialty offerings including cardiac sciences, neurology, oncology, and critical care.
- Over four decades of clinical excellence, catering to more than 5 lakh patients annually.
- Established presence in Pune and Kolhapur with upcoming projects in Nashik.
Strategic Rationale For Acquisition
Unaprime Healthcare, backed by leading PE funds and family offices, is focusing on mid-sized profitable hospital chains for inorganic growth. The Lokmanya acquisition aligns with its:
- Regional Leadership Strategy:
Strengthens Unaprime’s footprint in Maharashtra, India’s largest healthcare market after Tamil Nadu and Karnataka. - Specialty Expansion:
Positions it strongly in orthopaedics, trauma care, and robotic joint replacement – Lokmanya’s flagship offerings. - Operational Synergies:
Enables cost optimisation, digital health integration, and centralised procurement across its network. - Patient Volume Growth:
Adds 750 beds instantly to Unaprime’s portfolio, increasing its total capacity to over 2,400 beds across India.
Management Commentary
Dr. Rahul Tandon, CEO of Unaprime Healthcare, said:
“Lokmanya Hospitals has built a trusted brand in Western India with its commitment to quality and clinical outcomes. This acquisition will help us accelerate growth, scale specialties, and drive our vision of accessible high-quality healthcare.”
Dr. Narendra Vaidya, Founder of Lokmanya Hospitals, added:
“Partnering with Unaprime will strengthen our capabilities in digital health, medical technology integration, and expand our reach to serve millions with better infrastructure and affordability.”
Indian Healthcare Sector Context
| Metric | Value |
|---|---|
| India Healthcare Market Size (2025) | $380 billion |
| CAGR (2020-25) | ~19% |
| Private Hospital Sector Share | 65% |
| Key Growth Drivers | Rising incomes, lifestyle diseases, insurance penetration, medical tourism |
Lokmanya Hospitals’ Performance Snapshot (FY25)
| Particulars (₹ crore) | FY25 | YoY Growth (%) |
|---|---|---|
| Revenue | 423 | +14.8% |
| EBITDA | 92 | +18.4% |
| EBITDA Margin | 21.7% | +50 bps |
| Net Profit | 36 | +12.5% |
| Patient Footfalls | ~5 lakh | +9% |
| Surgeries Performed | 12,800 | +10% |
Unaprime Healthcare Consolidated Position Post Acquisition
Following this acquisition, Unaprime will operate:
- 17 hospitals across Maharashtra, Gujarat, and Madhya Pradesh.
- 2,400+ beds with expansion targets to reach 3,500 beds by FY27.
- 4 oncology centres and 5 orthopaedic centres of excellence.
- Annual patient volume of over 2.8 million.
Recent Strategic Moves By Unaprime
| Initiative | Region | Strategic Impact |
|---|---|---|
| Acquisition of Lokmanya Hospitals | Maharashtra | Market leadership in Western India |
| Acquisition of VCare Cancer Centres | Gujarat | Oncology vertical expansion |
| New greenfield hospital project | Indore, MP | Central India presence |
| Partnership with Siemens Healthineers | Pan-India | Diagnostic & imaging upgrade |
| Launch of digital health app | Pan-India | Patient engagement & remote consultations |
Analyst Views
- HDFC Securities:
“This acquisition provides Unaprime immediate access to Western India’s premium healthcare market. Lokmanya’s brand equity in trauma and orthopaedics enhances Unaprime’s specialty profile.” - Edelweiss:
“The valuation is attractive given Lokmanya’s growth trajectory and EBITDA margins exceeding 21%.” - Jefferies India:
“We expect revenue synergies from cross-referrals, technology integration, and scale benefits in procurement and insurance negotiations.”
Industry Challenges Ahead
Despite the optimism, key risks flagged include:
- Integration Challenges:
Managing cultural alignment and operational integration post-acquisition. - Regulatory Environment:
Compliance with local clinical establishment norms and government pricing policies. - Talent Retention:
Ensuring key doctors and senior management remain motivated during transition.
Healthcare M&A Trends In 2025
The Indian healthcare sector has witnessed over ₹20,000 crore worth of M&A deals in H1 FY26, driven by:
- Increased private equity interest in profitable chains.
- Consolidation among mid-sized hospitals for scale efficiencies.
- Rising demand for specialty and tertiary care centres.
Future Plans For Unaprime Healthcare
The company is targeting:
- 5 more acquisitions in the next 18 months, especially in South India.
- Expanding oncology, cardiology, and orthopaedics verticals as growth engines.
- Launch of digital diagnostics, remote ICU monitoring, and AI-led pathology services.
Conclusion
The acquisition of 84.5% stake in Lokmanya Hospitals by Unaprime Healthcare marks a significant consolidation in India’s hospital sector, especially in the Western region. As healthcare demand continues to surge with evolving patient expectations for advanced specialties, digital integration, and affordability, Unaprime’s aggressive growth strategy positions it well to emerge among India’s top ten private hospital chains within the next three years.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
