Unihealth Hospitals Limited has launched a dedicated Eye Care and Ophthalmology Department at UMC Victoria Hospital in Kampala, Uganda, successfully completing its first cohort of cataract surgeries. This strategic expansion follows the Board's approval on July 3, 2026, to increase the Company's ownership of Victoria Hospital Limited from 50.00% to 99.81% via a share-swap transaction. The move aims to position the Kampala facility as a full-spectrum regional eye-care hub and drive shareholder value by consolidating economic ownership of a profitable overseas asset while expanding clinical capabilities.

The new department is equipped with dedicated surgical infrastructure, specialized diagnostic equipment, and a trained clinical team to treat conditions ranging from routine vision care to complex surgical interventions. The initial cataract procedures were performed successfully without complications, with all patients reporting improved vision during post-operative review. This development addresses a critical gap in Uganda, where cataracts are a leading cause of preventable blindness and access to specialized surgical services is limited.

Strategic Expansion and Corporate Development

The commissioning of the ophthalmology unit is closely linked to the recent corporate restructuring. On July 3, 2026, the Board approved the acquisition of an additional 49.81% equity stake in Victoria Hospital Limited. Upon completion, Unihealth's shareholding will rise to 99.81%, making it an almost wholly owned subsidiary. Management views the new department as an early, tangible return on this consolidation strategy, as incremental investment in high-margin surgical specialties will accrue almost entirely to the Company.

Planned Clinical Enhancements

The launch of cataract surgery services marks the first phase of a broader plan to develop UMC Victoria Hospital into a leading regional eye care centre. Planned expansions include:

• Phacoemulsification (Phaco) Surgery: Introduction of minimally invasive cataract surgery for faster recovery.
• Retinal Surgery Services: Development of capability to treat diabetic retinopathy and retinal detachment.
• Glaucoma Management: Comprehensive diagnostic and surgical services.
• Paediatric Ophthalmology: Specialized screening and treatment for children.
• Advanced Diagnostic Imaging: Investment in optical coherence tomography (OCT) and fundus imaging.
• Outreach and Screening Camps: Community-based programmes to identify patients early.

Financial Performance

The clinical expansion adds a higher-margin service line to an asset that is already among the Group's most profitable. For FY26, Unihealth Hospitals Limited reported the following consolidated financial results:

East Africa contributed the substantial majority of the consolidated revenue. The Company was listed on NSE Emerge in September 2023.

Unihealth Hospitals Limited has secured Board approval to increase its stake in Victoria Hospital Limited, Uganda, to 99.81% through a preferential allotment of 12,50,000 equity shares. The transaction, executed via a share swap with Mr. Bhasker Kotecha and Dr. Chirag Kotecha, will consolidate ownership of the East African healthcare asset. Victoria Hospital reported a turnover of ₹115.27 crore in FY26, with a profit after tax of ₹43.53 crore, driven by strong operational leverage and a debt-free balance sheet.

The acquisition will be discharged entirely through the issuance of equity shares, preserving cash resources while enhancing future earnings attributable to Unihealth shareholders. The share exchange ratio was determined based on independent valuation reports in accordance with the Companies Act, 2013, and SEBI (ICDR) Regulations. The transaction requires shareholder approval under Section 42 and 62(1)(c) of the Companies Act, 2013, and Chapter V of the SEBI (ICDR) Regulations.

Financial Performance of Victoria Hospital

Strategic Rationale

Victoria Hospital enjoys a 10-year corporate income tax holiday effective until June 2034 and operates with a debt-free balance sheet. These attributes are expected to result in higher free cash flows and improved return on invested capital. Increasing ownership to 99.81% aligns virtually the entire economic interest of the subsidiary with Unihealth, simplifying the group structure and strengthening its East African growth platform.

The Board has also approved an increase in the authorized share capital from ₹17 crore to ₹20 crore to facilitate the issue. The transaction is subject to the receipt of requisite shareholder and regulatory approvals, including those under FEMA regulations.