Sterling Image


South Asia



Deal type


Investment date


Status date


Healthcare for Gujarat

The Indian healthcare market has long been underpenetrated with key ratios such as beds/1,000 population significantly below the emerging markets’ average. However, the nation’s growing middle class, rising per-capita incomes and the growth of health insurance is driving a shift towards private hospitals. This in turn has led to the growth of hospital chains such as Sterling, which are meeting the need for quality medical and surgical care.

Sterling operates a network of multi-speciality private hospitals across Gujarat, one of India’s fastest growing and most industrialised states. Actis invested in Sterling in 2006 to expand the reach throughout the state and drive operational efficiencies and economies of scale. The initial aim was to raise bed capacity to 900 and by the end of 2011 the company was managing more than 1,000 beds in a variety of hospitals across the state.

Sterling has hospitals in the cities of Ahmedabad, Baroda, Rajkot, Bhavnagar, Adipur, and Mundra as well as two satellite centres, at Kalol and Mehsana. Additional units also include a planned radiotherapy centre at Ahmedabad. Each provides a broad range of surgical and medical services comprising accident and emergency care, specialist consultation and surgery for a wide variety of diseases, as well as services in liver transplant, radiology, pathology, dentistry, ophthalmology, bone marrow transplant and obesity treatment. Recognised as one of India’s leading regional healthcare companies, patients from Rajasthan, Madhya Pradesh and Maharashtra travel to Gujarat to access Sterling’s facilities.

Actis worked with Sterling to ensure it maintained the highest health and safety standards. Both the Ahmedabad and Baroda hospitals are accredited by the National Accreditation Board for Hospitals & Healthcare Providers and the Ahmedabad hospital laboratory also received accreditation from the National Accreditation Board for Testing and Calibration Laboratories.