Paras Healthcare Limited was incorporated as Arbian Frozen Foods Private Limited', a Private Limited Company, pursuant to a Certificate of Incorporation dated December 21, 1987, issued by the RoC. Company became a deemed public company with effect from July 1, 1993, and the name was changed to 'Arbian Frozen Foods Limited'. Company was re-converted from a deemed public company to a Private Limited Company and the name of Company was changed to Arbian Frozen Foods Private Limited' and the Certificate of Incorporation was endorsed by the RoC on June 16, 2003. Subsequently, Company name was changed from Arbian Frozen Foods Private Limited' to Paras Healthcare Private Limited' by the RoC on July 21, 2003. Company was converted from a Private Company to a Public Company, and name was changed to 'Paras Healthcare Limited', vide fresh Certificate of Incorporation on July 18, 2024.
The Company has eight hospitals that it operate under the 'Paras Health' brand, which are spread across five states and one union territory in North India - Gurugram and Panchkula in Haryana; Patna and Darbhanga in Bihar; Kanpur, Uttar Pradesh; Udaipur, Rajasthan; Ranchi, Jharkhand; and Srinagar in the Union Territory of Jammu and Kashmir.
The Company established first hospital in Gurugram, Haryana in 2006 with 200 beds to provide affordable, accessible and quality healthcare services in North India and serve patients with compassion. Since then, it set up hospitals and focused on ramping up the operations. The hospital in Gurugram was the first corporate hospital entrant among the Peers in 2006 in the city and hospital in Srinagar is the largest private hospital in the city in terms of bed capacity with 200 beds.
In July 2017, Commelina Ltd (an affiliate of Creador, global private equity firm) acquired a stake in the Company. In October 2022, the Company acquired Plus Medicare Hospitals Private Limited at Udaipur. Thereafter, the Company commenced operations at Srinagar hospital in 2023 with 200 bed capacity and at Kanpur in 2024 with 435 bed capacity. The Company increased bed capacity from 1,250 beds as of March 31, 2022 to 2,135 beds as of March 31, 2024.
The Company' offer several clinical specialties across the hospitals including cardiac sciences, oncology, neurosciences, gastrosciences and orthopedics and joint replacement. It has established centres of excellence across the hospitals, where the Company provide clinical specialties and these centres have been instrumental in launching new programs including organ transplant programs.