The Bajaj Group, worth a staggering ₹1.46 lakh crore, has decided to make a foray into the healthcare industry by establishing a chain of hospitals in major cities across the country. This strategic move, overseen by Nirav Bajaj, marks the group’s first significant expansion since the passing of Rahul Bajaj in 2022.
The healthcare project is still in its early stages and will be operated under a new company. Nirav Bajaj, who currently heads corporate strategy at Mukand, is expected to lead this new venture. The investment strategy for this healthcare initiative is yet to be finalized, but sources suggest that the group plans to invest in phases based on specific milestones.
The headquarters for the new healthcare venture has been set up in Mumbai’s Lower Parel, signaling the group’s commitment to this new endeavor. The Bajaj Group, known for its diverse business interests including Bajaj Auto, Bajaj Finserv, and Bajaj Electricals, has decided to venture into a new sector following a thorough evaluation process.
In a notable shift from its traditional structure, the Bajaj Group has moved away from the position of a chairman and now operates through a family council. This council comprises of key family members including Rahul Bajaj’s cousins and sons, who collectively make decisions through a consensus-based approach.
Industry experts believe that the healthcare sector is a strategic fit for the Bajaj Group, given its strong focus on quality and service orientation. The group’s renowned brand reputation aligns well with the values of the healthcare industry, making it a natural choice for expansion. The decision to enter the healthcare sector was backed by extensive research and consultation with global consulting firms, highlighting the group’s meticulous approach to diversification.
The Bajaj Group’s interest in the healthcare sector is driven by the potential for growth in major metropolitan areas, where corporate hospitals are gaining prominence. With a solid financial position and a long-standing legacy of family unity, the group is well-positioned to make a successful entry into this dynamic industry. The family settlement agreement established in recent years further ensures a smooth transition for future generations within the business family.
Overall, the Bajaj Group’s decision to venture into the healthcare sector reflects its commitment to innovation and strategic growth. By leveraging its core values and expertise, the group is poised to make a significant impact in the healthcare landscape, benefiting both patients and the broader community.
