New Delhi: Sterling Addlife India Pvt Ltd, which operates the Sterling Hospitals chain of multi-specialty hospitals in Gujarat, on Thursday said a global consortium led by Arpwood Partners has acquired it for an undisclosed sum. Sterling Hospitals founder Girishbhai Patel has retained a minority stake and will continue to be a mentor to Sterling Hospitals, the company said in a statement without disclosing the financial details of the transaction.
Commenting on the development, Patel said, “The partnership with Arpwood is aimed at the pursuit of medical excellence at Sterling Hospitals to serve Gujarat. I have high confidence that Arpwood will be a capable new custodian of Sterling.”
A spokesperson for Arpwood Partners said the company’s intent at Sterling Hospitals is to build on its legacy of trust with investments in high-calibre clinical talent, infrastructure upgrade and patient service experience, and deliver quality medical care to patients.
“We will soon announce an experienced CEO who has had a long and distinguished record at one of the largest national healthcare chains,” the spokesperson added.
Sterling Hospitals chain was founded in 2001 by Patel. It has presence in Ahmedabad, Vadodara, Rajkot and Gandhidham and operates a network of six National Accreditation Board for Hospitals & Healthcare Providers (NABH) accredited hospitals, including two comprehensive oncology units, with combined operating beds of over 1,000.