SHALBY LIMITED

Shalby Limited was originally incorporated as a Private Limited Company with the name 'Shalby Hospital Private Limited' on August 30, 2004. Subsequently, the Company was converted to a Public Limited Company and the name was changed to 'Shalby Hospital Public Limited' on May 15, 2006. Further, the name of the Company was changed to Shalby Hospitals Limited on July 26, 2006 and then, again changed to Shalby Limited on February 13, 2008. Shalby Limited is an Ahmedabad-headquartered and one of the leading multi-specialty chain of hospitals in India and provides high-quality and economical healthcare services. With 15 hospitals and over 2,300 beds across 12 cities, Shalby is now the largest corporate hospital group in Western and Central India. The Hospitals are tertiary care hospitals, few of which offer quaternary healthcare services to patients in various areas of specialisation such as orthopaedics, complex joint replacements, cardiology, neurology, oncology, and renal transplantations. Led by Dr. Vikram Shah, an orthopaedic surgeon, the Hospital has grown from a single hospital to a chain of multi-specialty hospitals. Apart from orthopaedics, the hospitals provide advanced levels of care across various specialties such as neurology, cardiac care, critical care, oncology, and nephrology. The Hospitals, Krishna Shalby, SG Shalby, Shalby Indore and Shalby Jabalpur are accredited by the NABH. Further, Krishna Shalby and SG Shalby are also accredited by the NABL. The Hospital currently runs a pan-Indian chain of 11 multispecialty tertiary hospitals and 4 Single specialty Hospitals (SOCE) across 6 states with a total bed capacity of more than 2,000. Shalby has 59 outpatient clinics (OPDs) across 16 states. It also expanded global presence by opening OPDs in Kenya, Nairobi, Ethiopia, Tanzania, and Uganda in the African continent. In 2007, the Company established operations of its first multi-specialty hospital, SG Shalby, at Sarkhej Gandhinagar Highway in Ahmedabad. The company commenced a new hospital Shalby Vapi at Vapi in April 2012 and thereafter it commenced a new hospital Krishna Shalby in Ahmedabad in October 2012. The company commenced a new hospital Shalby Jabalpur at Jabalpur in Madhya Pradesh in March 2015. The company commenced a new hospital Shalby Indore at Indore in August 2015. In 2016, the company executed a memorandum of understanding with ZH Private Limited to manage and operate Zynova Shalby. During the year under review, the company executed an O&M agreement with Kamesh Hospital to commence operations of Shalby Mohali. In 2017, the company entered into an agreement with Bait Al Batterjee Medical Company LLC, Dubai, to provide outpatient orthopaedics and spine surgeries. The Company came up with an Initial Public Offer of 20,354,838 Equity Shares by raising capital from public aggregating to Rs 504. 8 Crores comprising a Fresh Issue of 19,354,838 Equity Shares amounting to Rs 480 Crores and an Offer for Sale of 1,000,000 Equity Shares amounting to Rs 24.8 Crore in December, 2017. With the increase in demand of digital transformation in healthcare sector, Shalby embarked its journey of digital transformation across its all hospitals from 2018-19. In 2020, the Company launched Video Assisted Thoracic Surgery (VATS) to reduce the incidence of surgical complications. The Liver Transplant Facility became fully operational at Shalby, Ahmedabad and Mohali. The Company incorporated a new wholly owned subsidiary Company under the name and style Mars Medical Devices Limited' on April 3, 2020. The Company also incorporated wholly-owned subsidiary company under the name and style Shalby Hospitals Mumbai Pvt. Ltd.' on December 10, 2020. In May 2021, the Company acquired the assets of Consensus Orthopaedics, a hip and knee implant manufacturing company with its facility at El Dorado Hills, USA. The Company also commenced multi-speciality rehabilitation centre at one of its Unit in 2021. The Company launched a state-of-the-art Digital Spine Operation Room' at SG Shalby Hospital, Ahmedabad in 2022. In September 2021, the Company launched its first Shalby Orthopedics Centre of Excellence (SOCE) in the country at Udaipur. Centralised cloud based Laboratory Information System (LIS) was launched in 2022. The Company further incorporated Shalby Advanced Technologies Inc. (SAT) in the first quarter of Fiscal 2022. In 2022-23, the Company launched a new product line of Uni Knee System called as Tahoe Unicompartmental Knee System or TUKS. It acquired 87.26% stake in PK Healthcare Pvt Ltd (Sanar International Hospital-130 beds) in FY 2024, making it a subsidiary of the Company and further acquired 100% stake in Healers Hospital Pvt Ltd at Gurugram costing Rs 104 Crore. Company further has established new SOCE in Ranchi having 60 beds in 2024. The new Rajkot SOCE unit became operational from July 2024. The Company opened major units at Indore and other hospitals to strengthen the super-speciality capabilities, supported by the hiring of 40 doctors focused on high-end procedures. Sanar Shalby Hospital in Gurugram, enhanced a Centre of Excellence (CoE) for liver transplants, bone marrow transplants, CT transplants and complex procedures in FY 2025.