About Artemis Medicare Services Limited

Artemis Medicare Services Limited is a healthcare services company incorporated in 2004, with its Registered Office in Dwarka, Delhi, and Corporate Office at Artemis Hospital, Sector-51, Gurugram, Haryana. The company’s flagship unit, Artemis Hospital in Gurugram, was established in 2007 as a multi-specialty facility and became the first hospital in the city to be accredited by both Joint Commission International (JCI), USA, and the National Accreditation Board for Hospitals & Healthcare Providers (NABH), underscoring its focus on quality and patient safety. Artemis provides a comprehensive suite of inpatient and outpatient services spanning high-end medical and surgical disciplines, supported by quaternary and super-speciality care capabilities.

The company serves patients from India and abroad and has strengthened its position in Medical Value Travel, with international patients contributing significantly to performance. As at March 31, 2025, Artemis reported one subsidiary; the company does not have any material subsidiary under the applicable policy framework. Recent milestones include the inauguration of a third tower at the Gurugram campus towards the end of Q2FY25—part of a phased ramp-up to meet growing demand—and the achievement of the highest-ever ARPOB alongside strong EBITDA margins, reflecting operating scale and efficiency. The company has also articulated expansion plans across Delhi NCR and select Tier 2 cities via brownfield and greenfield models, and has signed a long-term Operations & Management and Medical Services Agreement for a 300+ bed super speciality hospital in Raipur, Chhattisgarh, expected to become operational in FY 2025-26.

Artemis Medicare Services Limited Business Segments

• By service (Standalone, FY 2024-25): Healthcare & Other Services 97.39%; Pharmacy Drugs & Medical Consumables 2.61%. These ratios are derived from the company’s disaggregated revenue disclosures for the year.
• By geography (Standalone, FY 2024-25): India 72.16%; Outside India 27.84%, based on the reported split of revenue by location of customers.

Artemis Medicare Services Limited Key Management

• Onkar Kanwar – Chairman and Non-Executive Director
• Dr. Devlina Chakravarty – Managing Director
• Sanjiv Kumar Kothari – Chief Financial Officer
• Poonam Makkar – Company Secretary

Latest Updates on Artemis Medicare Services Limited

• Capacity expansion: The company inaugurated its third tower at the Gurugram facility towards the end of Q2FY25; the tower is being operationalised in phases to support rising patient volumes. During the year, Artemis delivered its strongest operational performance to date, with record ARPOB and robust EBITDA margins as scale and efficiency improved.
• Growth capital infusion: Artemis raised Rs. 330 crore from International Finance Corporation (IFC) through Compulsorily Convertible Debentures (CCDs) to fund expansion in quaternary and super-speciality care under brownfield and greenfield models across Delhi NCR and Tier 2 cities. The company received in-principle approvals from BSE and NSE on May 7, 2024, for the issuance of up to 1,89,62,247 equity shares upon conversion; the CCDs are convertible within 18 months from allotment, with a conversion price of Rs. 174.03 per equity share. As on March 31, 2025, 33,000 unsecured CCDs of Rs. 1,00,000 each held by IFC remained outstanding, convertible on or before November 15, 2025.
• Expansion of footprint: The company entered into a Long-Term Operations & Management and Medical Services Agreement to run a 300+ bed super speciality hospital in Raipur, Chhattisgarh, targeted to be operational in FY 2025-26, marking a meaningful entry into Central India.
• Technology and patient-care initiatives: Artemis launched advanced technology-enabled physiotherapy services in partnership with Abhinav Bindra Targeting Performance (ABTP), aimed at personalised, high-performance rehabilitation. It also initiated the replacement of its Hospital Information System to streamline workflows, data management, billing and analytics, and implemented a strengthened patient feedback mechanism to improve the hospital journey.