Dr Devi Shetty, one of India’s most celebrated cardiac surgeons, founded Narayana Health in 2000. With a net worth of $2.7 billion, as per Forbes, Shetty has over a 70% stake in the hospital chain and operates 47 facilities across India. The Narayana Hrudayalaya Ltd recently announced that it is set to acquire a UK-based hospital group, marking its entry into the European continent.
The landmark deal with the Practice Plus Group Hospitals was reported to be valued at Rs 2,200 crore, including a 100 per cent takeover of the company’s equity shares. The surgeon behind this deal, Devi Shetty, is celebrated globally for pioneering low-cost cardiac care, as he goes on to revolutionise healthcare models in India.
Devi Shetty’s real estate portfolio
The cardiac surgeon‘s real estate investments are closely linked to his hospital expansion, from Bengaluru to the Cayman Islands. Earlier this year, Narayana Health acquired a 1.2-acre space for Rs 169 crore in Hubli, Bengaluru, with an additional real estate purchase of Rs 246 crore in Bannerghatta, as per several reports. Interestingly, his son, Anesh Shetty, made a luxurious purchase during the COVID-19 pandemic in Koramangala. The opulent residence was reportedly worth more than Rs 18 crore.
Devi Shetty’s landmark ‘Health City’ project has invited investments into Kolkata, Jaipur, Ahmedabad, Raipur, Jamshedpur, Bhopal, and Delhi. However, his international investments include a 104-bed hospital, worth $70 million in the British Caribbean, which is up for further development, taking the cost to $2 billion.
Who is Devi Shetty?
Born in 1953, the 72-year-old billionaire was born in Kinnigoli. The renowned cardiac surgeon was the first to ever perform an open-heart surgery on an infant. He was honoured with the Padma Shri in 2004 and the Padma Bhushan in 2012. He featured in Netflix’s docuseries ‘The Surgeon’s Cut’ in 2020 after serving as the personal physician to Mother Teresa. He also pioneered the Yeshasvini micro-health insurance scheme in his home state, Karnataka. He took his company public in 2015, with biopharma billionaire Kiran Mazumdar’s small stake.