Bengaluru-based People Tree Hospital secures ₹220 crore investment from BlackRock, the world’s largest asset management firm, to expand its capacity to 400 beds and transform Super specialty & Oncology care.
This marks BlackRock’s first foray into the Indian healthcare sector, facilitated through the People Tree Hospital platform.
The investment—comprising ₹220 crore in the first tranche enables further expansion and a promoter led buyout and seamless exit to early-stage investor & Infosys co-founder, Kris Gopalakrishnan.
BlackRock has also made a commitment to invest another ₹210 crore as a green shoe option in the second tranche taking the total funding to ₹430 Crores or 50 Million USD.
This will drive expansion, operational growth, and the development of cutting-edge super-specialty and oncology care in India.
“This investment from BlackRock will enable the hospital to expand by an additional 250 beds which will support specialties including Oncology, Radiation Oncology, PET-CT, Heart, Lung, and Liver Transplants, as well as Hematology & Bone Marrow Transplants,” said Dr. Jothi Neeraja, MD & CEO of People Tree Hospitals.
“Future Plans include a 200-bed super-specialty hospital in a prime location at KR Puram, along with a projected expansion of total bed capacity from 300 to 800 across Bengaluru within the next 2–3 years,” said Dr. Upendra Kandluri.
Founded by Dr. Jothi Neeraja and Dr. Upendra Kandluri, People Tree Hospital stands as a beacon of promoter-owned assets, ensuring both scalability and stability. The hospital is wholly owned by Hopkins Healthcare Pvt. Ltd., rooted in the founding family’s vision.
“With an MBA in Healthcare from Johns Hopkins University, USA, Dr. Abhishek Kandluri drives business development, strategic growth, and expansion. He is supported by Dr. Trupthi Das, an Interventional Radiologist, for delivering clinical expertise. Abhinav Kandluri steers digital marketing, bolstering healthcare awareness, while Mrs. Maheshwari, COO, leads ground operations and digital transformation,” said Dr. Jothi
The investment will generate 500–1,000 jobs across Karnataka, further solidifying People Tree’s position as a leading healthcare employer. Its strategically located facilities, offering excellent connectivity and commute options, ensure accessibility for all patients.
“People Tree Hospital is a unique venture where doctors who understand patient needs are also the ones leading it. This partnership with BlackRock reinforces our mission to deliver world-class healthcare. Our expansion into oncology will enhance cancer care accessibility in India,” said Dr. Jothi Neeraja, MD & CEO.
In a bold move, the doctor-promoters have chosen complete operational control, minimizing external board influence to prioritize a patient-first approach.
“We aim to provide quality healthcare in India with a patient-first approach. The hospital is EBITDA-positive, and this investment validates our credibility while driving the next chapter of innovation and growth,” said Dr. Upendra Kumar Kandluri, who spearheaded the BlackRock partnership.
The promoters also operate Maarga, a psychiatric care unit & mental health wellness center in Yelahanka and is set to expand from 40 beds to a state of the art 100 beds. Expansion of more units & beds are planned to meet the increasing demand for mental healthcare.
The debt funding, structured through Non-Convertible Debentures (NCDs) on the Bombay Stock Exchange (BSE), ensures operational autonomy for the promoters. BlackRock’s rigorous due diligence—conducted by Deloitte, TTA Legal, and Pooviah & Co Legal —reinforces the financial and legal strength of both the hospital and its parent company, Hopkins Healthcare Pvt. Ltd. The secretarial services were provided by Chota CFO, while Seven Mountains served as the investment banker.
“With a 12-year legacy, People Tree Hospital is synonymous with great quality, patient-centric care. Our team consists of 100 doctors who are amongst the highly skilled and bring a combined experience of 200 years. The existing facility, spanning 1 lakh sq. ft., with the capacity to expand by an additional 3 lakh sq. ft., presents a significant opportunity for the hospital to expand and meet the growing demand for healthcare. Promoter & hospital owned infrastructure will drive sustainable growth and reinforce enduring trust & long-term stability,” said Dr. Abhishek Kandluri, Head of Strategy & Business Development, People Tree Hospitals.
Disclaimer: Content Produced by TMI Healthcare Pvt Ltd.
