Marengo Asia Hospitals has raised ₹400 crore from global impact investor LeapFrog Investments as the hospital network prepares for its next phase of expansion across India.
The fresh capital will support the company’s plans to strengthen its presence in existing markets and enter additional Tier-1 and Tier-2 cities. A key target is to double its hospital bed capacity from around 2,000 beds to 4,000 beds over the next two years.
Founded in 2021, Marengo Asia Hospitals has expanded through a focused acquisition-led strategy, bringing established regional hospitals into its network and enhancing their clinical and operational capabilities. The group currently operates five hospitals in India and has a strategic partnership in Saudi Arabia.
The hospital network serves more than 900,000 patients annually and has operations across the National Capital Region, Gujarat and Rajasthan. It reported revenue of ₹1,200 crore during the financial year 2025–26.
Abhishek Kabra, MD at Samara Capital and Chairman of Marengo Asia Hospitals, said, “Marengo Asia Hospitals has, in just five years, emerged as a leading healthcare provider in the regions where we operate. LeapFrog’s investment is a strong endorsement of the platform we have built and the potential for its next phase of growth. The proceeds will be used to consolidate our leadership in our existing markets while enabling us to expand into new geographies.
“We aim to double our hospital bed capacity to 4,000 beds over the next two years, further strengthening our ability to deliver high-quality, accessible healthcare.”
Marengo is backed by Samara Capital, the Godrej family office and the Havells family office. Its founder, Raajiv Singhal, previously worked as a surgeon with the Indian Army and has held senior roles with organisations including the Aditya Birla Group, Fortis Healthcare, Sakra Hospital and Care Hospitals.
For LeapFrog Investments, the transaction adds another major healthcare platform in Asia to its portfolio. Biju Mohandas, Partner and Global Healthcare Lead at LeapFrog Investments, said, “Close on the heels of our recent investments in GCMC, a leading hospital chain in the Philippines, and Pharmacity, Vietnam’s second-largest pharmacy retailer, our partnership with Marengo reinforces LeapFrog’s commitment to building high-quality healthcare platforms across Asia and Africa.”
The investment comes as Marengo looks to broaden access to organised healthcare beyond its current markets. Expansion into new cities could also strengthen its ability to serve patients seeking advanced medical treatment closer to home.
Marengo Asia Hospitals was advised by Avendus Capital for the transaction.
The ₹400 crore investment gives Marengo Asia Hospitals additional financial support to accelerate its growth strategy. With a planned expansion to 4,000 beds and a focus on new geographies, the company is positioning itself for a larger role in India’s rapidly expanding hospital sector.
(Photo courtesy: marengoasiahospitals.com)