KKR-Backed BMH Acquires Majority Stake in Meitra Hospital

The deal, valued at around INR 1,200 Cr, marks KKR’s third hospital investment in Kerala.

Global private equity firm KKR, through its India hospital platform anchored by Baby Memorial Hospital (BMH), has acquired a majority stake in Kozhikode-based Meitra Hospital, part of KEF Holdings.

The deal, valued at around ₹1,200 crore, marks KKR’s third hospital investment in Kerala.

The acquisition comes as KKR sharpens its focus on southern India, following its earlier investments in BMH and in Kerala Institute of Medical Sciences (KIMS Health).

The addition of Meitra strengthens its regional presence in a state that attracts investors with high literacy levels, advanced healthcare infrastructure, and an established base of private hospitals.

Meitra, a 450,000 sq. ft. quaternary care facility accredited by JCI, houses 220 patient rooms, eight operating theatres, and 52 ICUs.

It offers specialities including cardiology, neurosciences, orthopaedics, nephro-urosciences, gastro-sciences, and oncology services such as bone-marrow transplants and immunotherapy.

Background

The hospital was founded by Faizal E. Kottikollon, who will continue to serve as Chairman under the new structure. KEF Holdings framed the tie-up as a growth partnership aimed at scaling Meitra’s capabilities.

In an official statement, Kottikollon said, “Meitra Hospital was founded with the dream of bringing the world’s best healthcare practices and infrastructure to Kozhikode. This strategic partnership with KKR’s healthcare platform will enable us to accelerate that vision, expand our capabilities, and deliver even greater value to the communities we serve. Together, we are building a future-ready healthcare institution for India.”

Meitra will use the partnership to launch a new Oncology Centre and add more beds and ICUs.

The broader deal context highlights KKR’s long-term healthcare play in India. After previously exiting its investment in Max Healthcare, KKR re-entered the sector with a controlling stake in BMH and has been building a southern India-focused hospital platform.

In 2023, it also backed Quality Care India (Care Hospitals) in a transaction valued at over ₹5,000 crore, underscoring its commitment to healthcare as a priority sector.

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