Hyderabad-based oncology chain Omega Hospitals, backed by a fund managed by Morgan Stanley Private Equity (PE) Asia, has acquired Bengaluru-headquartered Cytecare Hospitals, as part of its strategy to deepen its presence in southern India.
The transaction was first reported by DealStreetAsia in September.
Cytecare Hospitals is a 155-bed cancer care provider, known for its organ-site-focused treatment model and multidisciplinary approach.
Spark Capital acted as the exclusive financial advisor on the transaction.
“Oncology care in India is rapidly evolving, and Cytecare has been a pioneer in embracing advanced treatment processes,” Dr. Ferzaan Engineer, co-founder & chairman, Cytecare Hospitals. “The transaction with Omega marks a new chapter of growth and excellence for Cytecare,” he added.
Founded in 2016, Cytecare is focused on a wide range of cancer treatments, including advanced surgical care, paediatric, interventional, and neuro oncology, among others.
The hospital, backed by key investors such as Goldman Sachs and Gi Global Health, also offers bone marrow transplants, gastrointestinal cancer treatment, pain and palliative care, among others, to patients from countries in Africa, Eastern Europe, the Middle East, and South Asia.
Omega Hospitals, one of India’s largest cancer-focused healthcare chains, operates more than 10 facilities with a combined capacity of over 1,400 beds, making it the country’s second-largest oncology network.
In 2024, the company secured Rs 500 crore in funding from Morgan Stanley Private Equity Asia, a deal first reported by DealStreetAsia in 2023.
At the time, Omega had said the capital would fuel both organic expansion and strategic acquisitions across multiple states.
In addition to oncology, the group provides services in cardiology, neurology, dentistry, ENT, and other specialties.
Among other deals, IPO-bound Manipal Hospitals acquired the 11-hospital Sahyadri network in July—a deal also reported first by DealStreetAsia in February.
