In a strategic move to strengthen its presence across southern India, Omega Hospitals has acquired Bengaluru-based Cytecare Hospitals, a leading name in cancer care. The acquisition, first reported by DealStreetAsia in September, marks a significant consolidation in India’s oncology healthcare landscape.
Cytecare Hospitals, a 155-bed facility known for its organ-site focused and multidisciplinary approach to cancer treatment, was established in 2016. Over the years, it has built a reputation for advanced oncology care, offering specialized services in surgical, pediatric, interventional, and neuro oncology. The hospital also provides bone marrow transplants, gastrointestinal cancer care, pain management, and palliative services to patients from Africa, Eastern Europe, the Middle East, and South Asia.
Commenting on the development, Dr. Ferzaan Engineer, Co-founder and Chairman of Cytecare Hospitals, said, “Oncology care in India is rapidly evolving, and Cytecare has been a pioneer in embracing advanced treatment processes. The transaction with Omega marks a new chapter of growth and excellence for Cytecare.”
Spark Capital acted as the exclusive financial advisor for the transaction.
Backed by investors such as Goldman Sachs and Gi Global Health, Cytecare’s integration with Omega Hospitals will enhance the latter’s capabilities and reach in oncology services.
With this acquisition, Omega Hospitals one of India’s largest cancer-focused healthcare chains further expands its network of over 10 facilities, collectively offering more than 1,400 beds. The company is now positioned as the country’s second-largest oncology network.
In 2024, Omega raised Rs 500 crore from Morgan Stanley Private Equity Asia, a move aimed at supporting both organic expansion and diversification into specialties such as dentistry and ENT.
The deal comes amid a wave of consolidation in India’s healthcare sector. Earlier this year, IPO-bound Manipal Hospitals acquired the 11-hospital Sahyadri network, another transaction first reported by DealStreetAsia.