Cygnus Medicare

Established in 2011 by co-founders Dr. Shuchin Bajaj, Naveen Nischal, and Sunil Bhayana, Cygnus Medicare Private Limited operates within India's healthcare sector, focusing on providing accessible medical services in tier-II and tier-III cities. The company is now known as Ujala Cygnus Healthcare Services following a significant event in November 2019, when media firm Amar Ujala Ltd acquired a majority stake for approximately Rs 130 crore, merging its own two hospitals into the portfolio. This strategic move formed a new entity where Amar Ujala holds management control, with the original promoters, Dr. Shuchin Bajaj and Dr. Dinesh Batra, remaining on the board.

Dr. Shuchin Bajaj, a key founder, was inspired to provide high-quality, low-cost healthcare to communities with limited access, a vision that led him to establish the hospital chain. His background in internal medicine and experience at prominent hospitals informed the company's mission. The business operates on an asset-light model, frequently taking hospitals on long-term leases or revenue-sharing agreements to enable scalable growth. This model is central to its strategy of revitalizing healthcare facilities by upgrading infrastructure, recruiting skilled medical professionals, and implementing robust operating procedures. The company generates revenue through the provision of hospital and medical care services.

The firm provides a wide array of super specialty medical services. These include cardiology, oncology, neurosciences, orthopaedics, nephrology, urology, and gastroenterology, among others. In April 2024, global growth equity firm General Atlantic acquired a majority stake in Ujala Cygnus. This investment is intended to fund upgrades to clinical and civil infrastructure, enhance comprehensive care capabilities across key specialties, and support network expansion throughout Northern India. Prior to this, the company had secured $27.87 million in funding across two rounds, the latest being a debt financing round in January 2024. The network has expanded from nine hospitals in 2018 to over 21 facilities with a capacity of more than 2,500 beds across states like Delhi, Haryana, Uttar Pradesh, Uttarakhand, and Jammu & Kashmir.

Keywords: hospital chain, healthcare provider, tier-II healthcare, tier-III healthcare, medical services, super specialty hospitals, asset-light healthcare, Indian healthcare, Ujala Cygnus, rural healthcare, secondary care, tertiary care, medical infrastructure, healthcare investment, Dr. Shuchin Bajaj, Probal Ghosal, General Atlantic, Amar Ujala, North India healthcare, hospital network