Krishna Institute of Medical Sciences Limited

Krishna Institute of Medical Sciences Limited (KIMS) disclosed that its wholly-owned subsidiary, KIMS Swastha Private Limited (KSPL), has entered into an Operations and Management Agreement with LOVR Institute of Medical Sciences Limited.

Agreement Details

  • Counterparty: LOVR Institute of Medical Sciences Limited (LIMS)
  • Agreement Type: Operations and Management Agreement
  • Geography: Domestic (India)
  • Term: Initial term of 10 years with extension option for additional 5 years
  • Effective Date: Operations commenced from 4th November, 2026
  • Execution Date: Agreement signed on 14th November, 2026

Facility Overview

The agreement covers Westfort Hi-Tech Hospital located in Thrissur, Kerala:

  • Establishment: 1989
  • Capacity: 250 beds
  • Specializations: Among first private facilities in the region with specialized units including Trauma Unit, Nephrology, Nuclear Medicine, and Renal Transplants
  • Key Departments: General Medicine, Diabetology, Cardiology, Neurology, Nephrology (including dialysis and renal transplants), Orthopedics, and General Surgery

Financial Terms

KSPL is entitled to receive consideration through either:

  • Fixed monthly fee of ₹50 lakhs per month, OR
  • 9% (Nine percent) of total Net Revenue

Net Revenue Definition: Audited revenue from the Hospital calculated in accordance with Indian GAAP, specifically excluding indirect taxes and other income items.

Operational Scope

KSPL has exclusive supervision and control over the Hospital and is solely responsible for proper operation and management of the facility. The agreement grants exclusive right to provide Medical Services and/or Additional Medical Services for current and future operations.

Related Party Status

The O&M Arrangement does not qualify as a related party transaction. Promoter/promoter group/group companies do not have any interest in the counterparty (LIMS). The transaction is conducted at arm's length.

Strategic Rationale

  • For Westfort Hi-Tech Hospital: Benefits from KSPL's expert management, ensuring world-class supervision, operational efficiency, and top-tier medical care
  • For KIMS: Enhances brand presence in Kerala through management of an established healthcare facility