When Chazhikattu Hospital was set up in Thodupuzha municipality in Idukki district in 1933, health facilities were rare in the area. What began as a nursing home under Dr CK Stephen grew over the years into a reputed private hospital run by his family. The family’s establishment survived for 91 years. Then, in October 2024, it was acquired by the Kozhikode-based Baby Memorial Hospital (BMH).

BMH acquired Chazhikattu for an undisclosed amount in October 2024, just months after the US-based private equity firm Kohlberg Kravis Roberts & Co (KKR) acquired a controlling stake in BMH. Chazhikattu, now rebranded as Baby Memorial Hospital, serves as one of BMH’s satellite hospitals, with a focus on orthopedic surgery. 

Over the last few years, there has been a spate of global PE firms acquiring hospitals across Kerala. The money that has been poured into the state’s healthcare sector by PE firms in the last five years reportedly exceeds Rs 20,000 crore. 

This trend raises questions about the future of healthcare in the state, especially because 65–70 percent of Kerala’s population depend on the private sector for healthcare. 

The state’s private health sector, along with its public health........

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