Leading Malayali businessman Faizal Kottikollon’s Meitra Hospital will see a majority stake acquired by global private equity firm KKR in a deal valued at approximately Rs 1,200 crore. This marks the first instance of a single hospital in Kerala achieving such valuation.

Meitra’s initial operations under Kottikollon’s KEF Holdings began in 2012, with hospital services commencing in 2017. The Kozhikode Meitra Hospital is JCI-accredited, spanning 450,000 sq. ft., with 220 patient rooms, eight operation theatres, and 52 intensive care units.

Kottikollon will continue as a shareholder and retain his role as Chairman. KKR will maintain Meitra as a premium brand within its hospital network and facilitate expansion into southern cities, including Chennai, Bengaluru, and Hyderabad. The partnership will also support new investments, including a state-of-the-art Oncology Centre, additional hospital beds, and ICUs.

KKR’s return to Indian healthcare

Having exited Max Healthcare in 2022, KKR’s acquisition of Meitra reflects a strong re-entry into the Indian healthcare sector. Last year, it acquired a majority stake in Baby Memorial Hospitals (BMH), also headquartered in Kozhikode, with presence in Kannur, Thodupuzha, Payyannur, and Vadakara. Construction of a hospital in Perumbavoor, Ernakulam district, is in its final stages.

Faizal Kottikollon’s investment track record

This marks Kottikollon’s third major deal in the past 15 years. Earlier, Emirates Techno Casting (ETC), a UAE-based firm he founded, was acquired by US-based Tyco International in 2011-12. Later, KEF Infra, his Indian venture, was acquired by Japanese investor SoftBank in 2018. Currently, he is developing a Rs 1,000-crore clinical wellness sanctuary near Kozhikode airport, named ‘Tulah’.

Indium Capital served as the investment banking advisor, and ALMT Legal handled KEF Holdings’ legal matters.

Faizal 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,” he added.