VPS Healthcare headquartered in Abu Dhabi will acquire a 10 percent stake in Rockland that owns 16 hospitals and more than 100 primary care medical centres.
VPS is buying the entire stake of Rockland founder Rajesh Srinivastava, who passed away in January this year. With the acquisition, the hospitals will be rebranded as VPS-Rockland Hospitals.
The major hospitals include the Qutub, the Dwarka and Manesar that employ 1300 people. Rockland also has a plot at Noida where Shamsheer will now develop a greenfield project. He plans to develop the Manesar Hospital into a referral centre for oncology.
Shamsheer, 39, a radiologist, founded VPS Healthcare in 2007. His network now has 16 hospitals, 112 medical centres and clinics, and 28 pharmacies in the GCC countries, his largest hospital is in Abu Dhabi, and is also the largest private tertiary care provider in Abu Dhabi.
He recently acquired a majority stake in Lakeshore Hospital in Kochi, Kerala.