MUrgency Group acquires majority stake in Ziqitza Health Care Ltd India's leading emergency medical response company

MUrgency Group has has entered into Share Purchase Agreements with Acumen Fund to acquire majority stake in Ziqitza Health Care Limited, India's leading emergency medical response and transportation (Life Support Ambulance Service) company. MUrgency Group a holding company for multiple businesses based out of India, UAE and USA.

Post the conclusion of the transaction, documentation and necessary approvals, MUrgency Group (https://www.murgency.com ) will be taking both board and management control of Ziqitza HealthCare Limited (https://zhl.org.in) Mr. Shaffi Mather will be taking over as the non-executive chairman and Ms. Sweta Mangal as the group chief executive officer of the combined MUrgency - Ziqitza Group. There are no immediate changes expected in the current management team in Ziqitza, a readout issued by the MUrgency Group. The announcement is consistent with Murgency strategic focus to maximize shareholder value and continue to reimagine Pre-Hospital Care in India.”

The world's and USA's largest emergency medical response and life support ambulance service company, Global Medical Response Inc., USA, (https://www.globalmedicalresponse.com/) owned 100.00% by KKR, USA, (https://www.kkr.com/) continues to remain an investor and 10.71% stakeholder in Ziqitza Health Care Limited at this time.

Following completion of these transactions, MUrgency Group will through Ziqitza HealthCare Limited will have a pan Indian presence in emergency medical response and transportation (Life Support Ambulance Service) sector with operations in 28 states in India with 3600+ ambulances and 12000+ employees with a medical transport operation of 15000+ patients every day. Ziqitza has till date transported 50 million+ patients. Presently, Ziqitza operates ambulances in India and UAE. Ziqitza is also positioning to grow its services across the six GCC nations (Saudi Arabia, Kuwait, Bahrain, Oman, Qatar, and UAE) in the next few years.

 

"This announcement marks a significant step for both MUrgency Group and Ziqitza towards delivering on their respective strategy to continue to grow the emergency medical response and medical transportation vertical in Asia. Saving lives is fundamental to the survival of human race. And the MUrgency - Ziqitza combine will save more lives by strengthening the emergency medical response and transportation both in India and abroad", said Mr. Shaffi Mather, Founder of MUrgency and Ziqitza

Acumen Fund Inc., USA, a global social impact venture fund, is the major seller in this round. Acumen had invested in Ziqitza Health Care Limited both in Series A and Series B rounds of the Company. HDFC, IDFC First Bank and founders of True North Private Equity (in their personal capacity) are also sellers in this round.

"Acumen is happy to be selling our stake to MUrgency Group led by Mr. Shaffi Mather to take this important work forward," said Ms. Carlyle Singer, President of Acumen Fund. "Mr. Mather shares our commitment to integrity, sustainability and the communities that Ziqitza has been serving," she added.

BACKGROUND:

About MUrgency Group is founded by Mr. Shaffi Mather and is backed by leading investors is playing the role of the idea generator, incubator, accelerator, growth hacker, organization builder and corporate office for various businesses in business incubation, acceleration, airport assistance services, quaternary medical care, reproductive & fertility medicine, e-commerce and fintech in India, UAE, and USA.

MUrgency Group's investors include Mr. Ratan Tata (TATA), Mr. Kris Gopalakrishnan, Mr. S D Shibulal & Mr. Srinath Batni (ex-Infosys), Mr. Rishad Premji (WIPRO), Mr. Thierry Porte (JC Flowers & Co), Mr. Vish Narain (ex TPG Growth), Prof. Tarun Khanna (Harvard Business School) and by the promoters of Group Meeran and supported many more reputed names and companies.

MUrgency Group is also backed by three of the world's leading emergency medical transportation and life support ambulance service companies from USA & Europe.

About Ziqitza Healthcare Ltd

Ziqitza Health Care Limited was founded in 2002 by Mr. Shaffi Mather and launched the service in Mumbai in 2004 with 2 Advanced Life Support Ambulances. Ziqitza's first ALS Ambulance was based out of Sir H N Reliance Foundation Hospital when the service was launched. The then yellow and green ambulances in Mumbai transformed emergency medical response, transportation and life support ambulance service in India forever serving the nation and saving lives in critical times including during the unfortunate 7/11 Mumbai train stations terror attack and the 26/11 Mumbai terror attack

Ziqitza Healthcare Limited (ZHL) today is the leading provider of Emergency Medical Services (EMS) in India since 2005. Our clients include hospitals, the Government and corporate clients in India & Gulf for varied EMS requirements like Ambulances, Medical Mobile units, telemedicine, and helplines. Ziqitza ’s focus on the vision of Saving & Enhancing Lives has helped save more than 50 million lives, and has transferred 2.5 lac corona patients and handled over 2 million telehealth calls. World Economic Forum has recognized Ziqitza as one of India’s Top 50 covid-19 last mile responders to the pandemic. 

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