The healthcare entity — Bajaj Integrated Health Systems (BIHS) — will comprise hospitals, neighbourhood day clinics, ambulatory day surgery centres, and home care services, Nirav Bajaj, MD & CEO, BIHS, told ET in an interview. The first of the “continuum care setup” — including a large multispecialty hospital, more than a dozen day care centres, ambulatory surgery units, and home care services — will open in Pune by Decemberend, followed by Mumbai in 3-4 years, Bajaj said.
Similar centres are planned in other metros in line with Bajaj’s aim to achieve a pan-India footprint in the next 10-15 years. “The Bajaj Group… historically built businesses that were focused on the people of the nation and nation building,” said Nirav Bajaj, part of the fourth generation in the Bajaj family, and son of Bajaj Auto chairperson Niraj Bajaj. “So, in a sense… it should not come as a surprise that we are entering healthcare.”
Known for its automobile, consumer electronics, engineering, and financial services businesses, the Bajaj Group, founded by Jamnalal Bajaj, currently has a market capitalisation of about Rs 14 lakh crore.
The latest venture will be entirely greenfield and funded through internal accruals and promoter capital. While the group has committed Rs 2,000-2,500 crore for the Pune rollout, industry executives estimate total investments could scale up to Rs 6,000-7,000 crore over the next 4-5 years as expansion gathers pace.
Bajaj declined to comment on long-term capital allocation.
Breaking away from traditional hospital-led models, the group is betting on an integrated healthcare system that prioritises care outside hospitals. “Traditionally, healthcare chains have focused on the hospital…What we are building is actually a continuum of care,” he said. “We believe that 70- 80% of healthcare needs can be treated outside of the hospital…This is an area which is financially beneficial to patients… and… where there is less infection… leading to outcomes.According to Bajaj, the new healthcare model will route patients through the most appropriate setting — home care, clinic, day surgery or hospital — depending on clinical need, rather than maximising hospital occupancy.
“So, if you do not need to go to a hospital, we will not send you to a hospital,” he said. “We will treat you in your neighbourhood clinic… and only when your need is acute enough is when we will send you to our hospital.”
The clinic and ambulatory service will come up in leased spaces and will be much larger formats than typical clinics, while the hospital will be entirely greenfield.
In a significant departure from industry norms, doctors within the system won’t have revenuelinked targets. “Our physicians will not have revenue targets…their targets are purely focused on quality of care, on outcomes and patient experience,” Bajaj said.
The group also plans to leverage synergies with its insurance businesses, including Bajaj General Insurance, to design products tailored for outpatient and day-care treatments—segments that are currently underpenetrated in India’s insurance ecosystem.
“Our intent is to…keep the patient as the primary beneficiary while the back-end burden of the payer and the provider… is eased,” he said, describing the existing friction between hospitals, insurers and patients.
The new entity plans to hire 500 people, including doctors, paramedics and other administrative staff, by the end of the year.
Bajaj also said that while the group has entrusted him with leading the new business, like all other Bajaj ventures, it has the full support of the family and the broader group.
“We are a joint family and a group — while I lead the venture, we benefit from the experience and guidance of family members and colleagues across businesses,” he said. On the chances of a possible listing, Bajaj said, “It is too early to comment.”
However, he added that over time, the group expects the venture to scale into a national platform. “If we’ve done our job to earn the trust of the population, I don’t see why this cannot become one of the key organisations within the group,” said Bajaj.
