Morgan Stanley makes Historic Entry into Indian Healthcare with ClearMedi Majority Stake; Cdr. Navneet Bali Appointed as Group CEO

New Delhi, September 5, 2023: A prominent healthcare leader Commander Navneet Bali has been appointed as Group Chief Executive Officer (CEO) of ClearMedi Healthcare– a prominent player in cancer-focused healthcare service provider. The new appointment marks the beginning of a new era.  In a historic move marking Morgan Stanley’s debut in the Indian healthcare landscape, the global financial powerhouse has acquired a majority stake in ClearMedi Healthcare Pvt Ltd. Under the leadership of Commander Bali Morgan Stanley-backed ClearMedi Healthcare is all set to chart an ambitious path toward solidifying its position in the industry.

Commander Bali, with an illustrious 25-year career in the Indian Navy and successful leadership roles at Narayana Health and IOSPL, is well-poised to lead ClearMedi Healthcare to new heights of success.

Dr. Shashi Baliyan, Founder of ClearMedi Healthcare, expressed enthusiasm about this groundbreaking collaboration, stating, “Morgan Stanley’s entry into the Indian healthcare sector signifies a transformative moment for our industry. As we continue to expand and provide high-quality healthcare solutions to our patients, Commander Navneet Bali’s visionary leadership, coupled with Morgan Stanley’s support, will play a pivotal role in shaping our company’s future.”

Morgan Stanley’s backing adds substantial momentum to ClearMedi’s market presence. With Morgan Stanley’s vast financial expertise and resources, ClearMedi is strategically positioned to expand its reach, invest in cutting-edge technologies, and uphold its commitment to delivering exceptional healthcare services to its clients.

“I am honored to join ClearMedi Healthcare as the Group CEO and be part of an organization committed to making a meaningful impact in the healthcare landscape,” said Commander Navneet Bali. “Together with our talented team, we will drive innovation, foster growth, and ensure that ClearMedi Healthcare remains a beacon of excellence in the industry.”

ClearMedi Healthcare, a renowned healthcare company, is a joint venture between Medipass, a subsidiary of La Repubblica Group in Italy, KOS S.p.A. in Italy, and Clearview Healthcare India. Founded in 2010 by Shashi Kant Baliyan, ClearMedi Healthcare manages complex clinical services, including oncology, nuclear medicine, and radiology, and operates standalone super specialty hospitals with over 350 hospital beds across different locations. ClearMedi runs its facilities in eight states and a union territory and has emerged as a trusted leader in the healthcare sector, particularly in providing cancer care services.

Morgan Stanley PE Asia’s acquisition of a controlling stake in ClearMedi Healthcare, a Delhi-NCR headquartered chain of oncology hospitals and radiation therapy centers, valued at approximately $35 million (Rs 285 crore), is a testament to the global financial giant’s commitment to the Indian healthcare sector. The deal involved the purchase of a majority stake from Italy’s KOS Group and fresh equity injection into the company.

Morgan Stanley, a global financial services company with a presence in 42 countries, offers investment banking, securities, wealth management, and investment management solutions. The company serves clients worldwide, including corporations, governments, institutions, and individuals.

Corporate Comm India (CCI Newswire)