Bakshi, a neurosurgeon by training will be replacing Ramesh Krishnan the current Chief Executive Officer of India Operations from May 1 onwards.
Moneycontrol News
Parkway Pantai, part of Malaysia-based IHH Healthcare on Wednesday said it has appointed Ajay Bakshi as the head of India operations.
Bakshi, a neurosurgeon by training will replace Ramesh Krishnan the current Chief Executive Officer of India Operations from May 1.
Prior to Parkway Pantai - Bakshi was with Max Healthcare as Managing Director and CEO where he led the successful launch of four new hospitals as well as a comprehensive turn-around of the hospital network. As the Managing Director and CEO of Manipal Hospitals from 2014 to 2017, he oversaw 16 hospitals covering 7,000 beds in India and Malaysia.
Prior to his direct stint at hospital chains Bakshi worked as consultant with McKinsey, where he advised large US healthcare and pharmaceutical corporations on their strategy and operations as well as addressed the effectiveness of healthcare systems in the Middle East and African countries.
“Personally it has been a very fulfilling five years for me at Parkway Pantai in building the franchise across India. Today, India is one of our home markets, alongside Malaysia and Singapore. I am proud to hand over the baton to a highly qualified and passionate professional of Ajay’s calibre. He can steer the India operations through its next phase of growth and consolidation, and continue leading an excellent team which I have had the good fortune to put together,” Krishnan, current CEO of Parkway Pantai said.
Parkway Pantai began operations in India three years ago by buying controlling stake in Hyderabad-based Continental Hospitals for Rs 300 crore followed by a much larger buyout of Global Hospitals at Rs 1,300 crore.
The acquisitions gave Parkway Pantai a head-start in the Indian healthcare business with an operational capacity of 2,100 beds across a network of 7 hospitals and 3 feeder centres in the key cities of Chennai, Bangalore, Hyderabad, Kolkata and Mumbai making it to the list of top seven healthcare providers and a potential to add 1,000 beds in the existing network of hospitals.
Since Parkway Pantai has been trying to extract further business synergies, cost savings and operating leverage through centralized procurement, optimized backroom functions, common branding and marketing strategy, sharing of doctors and better utilization of facilities.
Parkway Pantai's parent IHH is also in the news for buying controlling stake in Global Health, the parent of Naresh Trehan-founded Medanta hospitals, in a deal valued at around Rs 5,800 crore. Medanta operates more than 1,600 beds, mostly from its large Gurgaon facility 