Deal Announcement

Evernile Capital advises IRIS Chain of Hospitals on its acquisition of Dr. Jayant Shah Hospital, Nadiad

Announced Date: JULY 2026

Evernile Capital acted as the exclusive financial advisor to Tulips Healthcare Limited, operating as IRIS Chain of Hospitals, on its acquisition of Dr. Jayant Shah Hospital in Nadiad, Gujarat.

The transaction marks IRIS Chain of Hospitals’ entry into Nadiad and the wider Kheda district. It brings together Dr. Jayant Shah Hospital’s long-standing presence and trusted relationships within the local community with IRIS’s multispecialty advanced clinical capabilities, hospital infrastructure and standards of care.

About IRIS Hospital

IRIS Chain of Hospitals is a surgeon-led multispecialty hospital group founded by eight practising doctors and headquartered in Central Gujarat. The group currently operates three units and provides care across more than ten advanced clinical specialties.

About Dr. Jayant Shah Hospital, Nadiad

Dr. Jayant Shah Hospital has served patients across Nadiad and the surrounding Kheda district for more than five decades. The hospital has built enduring relationships with generations of families and is recognised for its strong local presence and patient trust.

Strategic rationale for the transaction

The transaction combines three complementary strengths: Dr. Jayant Shah Hospital’s strategic location in Nadiad, the trust it has built within the local community over several decades, and the clinical depth and multispecialty capabilities of IRIS Chain of Hospitals.

Through the acquisition, IRIS intends to strengthen access to advanced healthcare services in Nadiad and the wider Kheda district, while preserving the hospital’s existing patient relationships and clinical legacy.

The transaction also forms part of IRIS Chain of Hospitals’ strategy to build a scaled multispecialty healthcare platform across Central Gujarat through a combination of organic growth and targeted acquisitions.

Evernile Capital advised IRIS Chain of Hospitals across the end-to-end transaction process, including transaction structuring and closing execution.

“Dr. Chetan Shah has built deep and enduring trust among families across Nadiad over several decades. By bringing Dr. Jayant Shah Hospital into the IRIS network, we aim to preserve that legacy while expanding access to advanced specialties, clinical capabilities and hospital infrastructure for patients across Nadiad and the wider Kheda district.”