KIMS Swastha Private Limited, a wholly-owned subsidiary of Krishna Institute of Medical Sciences Limited, has entered into an Operations and Management Agreement with LOVR Institute of Medical Sciences Limited. This agreement grants KSPL exclusive rights for the medical services at the Westfort Hi-Tech Hospital in Thrissur, Kerala, for an initial term of 10 years, potentially extendable by 5 years. The O&M services commence effective November 4, 2026.
Hospital Operations and Management Agreement Signed
Krishna Institute of Medical Sciences Limited (KIMS Hospitals) announced today, November 14, 2026, that its wholly-owned subsidiary, KIMS Swastha Private Limited (KSPL), has signed an Operations and Management Agreement with LOVR Institute of Medical Sciences Limited. This strategic pact is set to significantly influence the operational landscape of the Westfort Hi-Tech Hospital located in Thrissur, Kerala.
Agreement Details and Scope
Under the terms of this agreement, KSPL has secured the exclusive right to provide medical services and additional medical services for both the current and future operations of the Westfort Hi-Tech Hospital. The agreement is initially set for a term of 10 years, with an option for an extension of a further 5 years. The O&M services officially commenced on November 4, 2026.
Financial Considerations and Rationale
In return for providing these crucial medical services, KSPL is entitled to receive a monthly revenue fee of Rs. 50 Lakhs, or alternatively, 9% of the total Net Revenue generated by the hospital. ‘Net Revenue’ is defined as audited revenue calculated in accordance with Indian GAAP, excluding indirect taxes and other income items. The agreement places the hospital under KSPL’s exclusive supervision and control, ensuring its proper operation and management. This arrangement is expected to enhance KIMS’ brand presence in Kerala, leveraging the expertise of KSPL in managing world-class healthcare facilities.
Hospital Capacity and Strategic Fit
The Westfort Hi-Tech Hospital currently has an installed capacity of 250 beds. The rationale behind this agreement highlights the benefits for both parties: Westfort Hi-Tech Hospital gains from KSPL’s expert management, world-class supervision, operational efficiency, and top-tier medical care, while KIMS Hospitals expands its strategic footprint and brand presence within the Kerala market.
Regulatory Compliance
The requisite disclosures as per SEBI Listing Regulations have been made, with detailed information enclosed as Annexure-A. This announcement is in line with the company’s strategy to expand its operational reach and management expertise across key healthcare markets.
Source: BSE
