Marengo Asia Hospitals Raises $40 MN from LeapFrog to Expand Footprint

The healthcare chain further seeks to double its bed capacity from around 2,000 beds to 4,000 beds over the next two years.

Delhi-NCR-based multispeciality hospital chain Marengo Asia Hospitals has raised $40 million (approx. INR 382 Crore) in growth capital from LeapFrog Investments.

The funding will support the hospital chain’s expansion across Tier-I and Tier-II cities in West and North India, while strengthening its presence in existing markets and expanding its footprint into adjacent geographies.

Marengo plans to use the capital to expand its hospital network, invest in medical technology and centres of excellence, and strengthen patient experience and clinical capabilities.

The healthcare chain further seeks to double its bed capacity from around 2,000 beds to 4,000 beds over the next two years.

Backed by private equity firm Samara Capital and the family offices of the Godrej and Havells groups, the hospital has expanded through a buy-and-build strategy involving the acquisition of established regional hospitals and the strengthening of their clinical and operating capabilities

Earlier this year, the healthcare chain became the first Indian hospital group to enter Saudi Arabia through a strategic partnership that included a 120-bed hospital in Nazran, which is expected to double its capacity next year, making it one of the largest private hospitals in the region.

Sharing his thoughts, Biju Mohandas, partner and global healthcare lead at LeapFrog Investments, said, “Our partnership with Marengo reinforces LeapFrog’s commitment to building high-quality healthcare platforms across Asia and Africa. Marengo has demonstrated that world-class clinical care can be delivered at scale in rapidly growing Tier II cities and beyond.”

Established in 2021, Marengo Asia Hospitals operates five tertiary facilities across the National Capital Region, Gujarat, and Rajasthan.

Its capabilities span high-acuity specialties including cardiology, oncology, neurology, gastroenterology, orthopaedics, and renal care and transplants.

The hospital network currently has around 2,000 beds and treats more than 900,000 patients annually.

The proceeds will be used to expand its network of multi-specialty hospitals in the country and double bed capacity to 4,000 over the next two years.

Commenting on the investment, Abhishek Kabra, MD at Samara Capital and Chairman at Marengo Asia Hospitals, said, “The proceeds will be used to consolidate our leadership in our existing markets while enabling us to expand into new geographies. We aim to double our hospital bed capacity to 4,000 beds over the next two years, further strengthening our ability to deliver high-quality, accessible healthcare.”

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