Artemis Hospitals

What Artemis Hospitals does

Artemis Hospitals, operated by Artemis Medicare Services Limited (publicly listed on Indian stock exchanges, backed by Apollo Tyres Group promoters), is a 750+ bed multi-specialty hospital established in 2007 on a 9-acre campus in Gurgaon, Haryana. The flagship facility spans 525,000 square feet across three towers and operates 14 Centers of Excellence covering 40+ specialties, staffed by 400+ specialist doctors. Artemis holds the distinction of being the first JCI-accredited hospital in Gurgaon (2013) and the first NABH-accredited hospital in Haryana (2010), supplemented by NABL, ISO 27001, NABH Nursing Excellence, and Green OT certifications. Technology infrastructure includes the M6 CyberKnife (first in North India), da Vinci Robotic Surgical System, 3T MRI, PET CT, O-Arm surgical imaging, and Philips FD20/10 cath lab with advanced cardiac imaging.

The hospital operates a hub-and-spoke model anchored by the Gurgaon main campus, supplemented by Daffodils by Artemis maternity centers (Delhi and Gurgaon), Artemis Shanti Hospital (Raipur), Solace Homecare, and the Sarthi Privilege elderly care initiative. Revenue is generated through transactional fee-for-service across inpatient and outpatient care, with multi-channel patient acquisition including walk-ins, online/mobile appointment booking via the ArtemisPHR app, WhatsApp, video consultations, corporate empanelment with 200+ companies (including Infosys, TCS, IBM, Dell, Hero MotoCorp), government empanelment with CGHS and 50+ PSUs, and cashless insurance processing through 25+ Third Party Administrators (HDFC Ergo, ICICI Lombard, Star Health, Bajaj Allianz). International patient services serve patients from 70+ countries with medical interpreter support, though Middle East geopolitical tensions have driven 35-75% volume declines in specific corridors, prompting diversification toward Africa, Southeast Asia, and Central Asia. Preventive health checkup packages (Basic, Silver, Gold, Platinum, Diabetic, Healthy Heart) target both individual and corporate segments.

FY2026 (ended March 2026) revenue reached Rs 1,081.24 crore with 15.40% YoY growth, and net profit reached Rs 103.62 crore with 25.40% YoY growth. Operational metrics include ARPOB of Rs 84,571 and 71% bed occupancy. The company is executing an aggressive expansion strategy with planned bed capacity growth from 1,000 to 2,000-2,200 beds by FY28, supported by Rs 330 crore IFC funding (April 2024) and a proposed Rs 700 crore equity raise (June 2026) explicitly targeted at inorganic growth. Analyst projections from Antique Stock Broking suggest 23% revenue CAGR and 34% EBITDA/PAT CAGR through FY28, the highest in their hospital coverage universe, with a Rs 340 target price implying 24-45% upside.

Name

Artemis Hospitals

Legal name

Artemis Medicare Services Limited

Website

https://artemishospitals.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Multi-Specialty Hospital Services

NAICS

General Medical and Surgical Hospitals (6221), General Medical and Surgical Hospitals (62211), Hospitals (622)

SIC

Services-Hospitals (8060), Services-General Medical & Surgical Hospitals, Nec (8062)

akta.pro primary industry

Oncology & Cancer Specialty Hospitals (HLAFAHAC)

akta.pro secondary industries

Oncology & Specialty Treatment Travel Agencies (THAKAIAI), Transplant Specialty Hospitals (HLAFAHAE), Orthopedic & Spine Specialty Hospitals (HLAFAHAB)

Keywords

• Multi-specialty hospital services
• Cardiac care treatments
• Oncology and radiation therapy
• Robotic surgical procedures
• International patient services

Headquarters

HQ city

Haryana

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. In-patient Hospital Services: Revenue from hospital admissions, room charges, surgical procedures, ICU stays, nursing care, and related inpatient medical services. Multi-specialty offerings across 40+ specialties generate revenue from varied procedure types including complex surgeries, transplants, and critical care.
2. Out-patient Services: Revenue from consultations, diagnostic tests, day care procedures, chemotherapy sessions, radiation therapy, and other outpatient medical services.
3. Insurance/TPA Revenue: Cashless transactions through empanelment with 25+ Third Party Administrators (TPAs) including major insurers like HDFC Ergo, ICICI Lombard, Star Health, Bajaj Allianz, and others. Also serves government schemes like CGHS, state government health schemes.
4. Corporate Healthcare Programs: Revenue from corporate empanelment agreements providing executive health checks, workplace clinics, healthcare awareness programs, and preferential treatment for employees of partnered corporations.
5. International Patient Services: Revenue from international patients seeking advanced medical treatments, particularly from Middle East, Africa, and neighboring countries. Includes medical interpreter services, visa assistance, and customized care packages.
6. Preventive Health Packages: Revenue from comprehensive health checkup packages ranging from basic to platinum levels, targeting individuals and corporate clients for preventive healthcare screening.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels9 records

Core offering

Artemis Hospitals operates a 750+ bed multi-specialty tertiary care hospital in Gurgaon, delivering advanced medical and surgical interventions across 40+ specialties through 14 Centers of Excellence. Core services include cardiology, oncology, neurosciences, orthopedics, organ transplantation, robotic surgery, and radiation therapy, supported by advanced technology such as the M6 CyberKnife, da Vinci surgical system, 3T MRI, and PET CT. The hospital also runs a maternity brand (Daffodils by Artemis), a Raipur facility (Artemis Shanti Hospital), home care services (Solace Homecare), and serves international patients from 70+ countries.

Product overview

Artemis Hospitals operates a platform of healthcare facilities anchored by its flagship 750+ bed multi-specialty hospital in Gurgaon, supported by Artemis Shanti Hospital in Raipur and Daffodils by Artemis maternity facilities. The integrated portfolio includes Solace Home Care for at-home services, Sarthi Privilege for elderly care, and comprehensive Preventive Health Checkup Packages. Medical services span 40+ specialties including Oncology, Cardiac Sciences, Neurosciences, Orthopedics, Gastroenterology, Bone Marrow Transplant, Robotic Surgery, and Liver Transplant through 14 Centers of Excellence. International Patient Services extends care to patients from 70+ countries. The ecosystem is unified under Artemis Medicare Services Limited, a publicly listed company.

Differentiator

Problem solved

Functional benefit

Brands

• Daffodils by Artemis: Maternity hospital brand operating in Delhi and Gurgaon
• Artemis Shanti Hospital
• Solace Homecare
• Sarthi
• Artemis Health Sciences Foundation

Products and services

• Artemis Hospitals Main Campus (Gurgaon) 750+ bed state-of-the-art multi-specialty hospital in Gurgaon offering advanced medical and surgical interventions across 40+ specialties through 14 Centers of Excellence, including cardiology, oncology, neurosciences, orthopedics, gastroenterology, transplant services, robotic surgery, and radiation therapy.
• Daffodils by Artemis Maternity Hospital Dedicated maternity and women's health facility in Delhi and Gurgaon offering specialized obstetric and gynecological care services for expectant mothers, women, and children.
• Artemis Shanti Hospital (Raipur) Multi-specialty hospital facility operated by Artemis Hospitals in Raipur, providing healthcare services to patients in Chhattisgarh and surrounding regions.
• Solace Homecare Home-based healthcare service providing medical care and support to patients in their homes, including post-discharge care, chronic disease management, and elderly care.
• Sarthi Privilege Elderly Care Elderly care initiative by Artemis Geriatric Excellence Care Services providing home-based elderly care services, including healthcare support tailored for senior citizens.
• Preventive Health Checkup Packages Comprehensive health screening packages for early detection and prevention, including Basic, Silver, Gold, Platinum, Diabetic, and Healthy Heart packages, targeting individuals and corporate clients for preventive healthcare screening.
• International Patient Services Dedicated services for international patients from 70+ countries including medical interpreter services, visa assistance, travel coordination, accommodation arrangements, and customized care packages for medical tourism.
• 5G-Connected Ambulance Service 5G-enabled advanced ambulance service launched with Medulance providing real-time data transmission, AI-enabled triage, and telemedicine integration for remote specialist consultation during patient transit in emergency response situations.

Quantifiable outcome

• Successfully performed India's first known MYSM1-related bone marrow failure syndrome treatment
• +5 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

13 partnerships are on record, tiered core and minor.

• MedulancecoreTechnology or Integration · 4 June 2025Strategic partnership to launch India's first 5G-connected advanced ambulance in Gurugram. The ambulance features real-time data transmission capabilities and telemedicine integration allowing emergency care coordination and remote specialist consultation during patient transit. This partnership enhances Artemis's emergency response infrastructure and positions the hospital at the forefront of connected healthcare delivery.
• Alankit Health TPAcoreChannel Partner/ Reseller/ DistributorThird Party Administrator providing cashless insurance claim processing and settlement services for insured patients at Artemis Hospitals.
• Apollo Munich Mediassist TPAcoreChannel Partner/ Reseller/ DistributorThird Party Administrator providing cashless insurance claim processing for patients with Apollo Munich health insurance coverage.
• HDFC Ergo TPAcoreChannel Partner/ Reseller/ DistributorThird Party Administrator providing cashless insurance claim processing for HDFC Ergo health insurance policyholders.
• ICICI Lombard TPAcoreChannel Partner/ Reseller/ DistributorThird Party Administrator providing cashless insurance claim processing for ICICI Lombard health insurance customers.
• Star Health TPAcoreChannel Partner/ Reseller/ DistributorThird Party Administrator providing cashless insurance claim processing for Star Health insurance policyholders.
• CGHS (Central Government Health Scheme)coreChannel Partner/ Reseller/ DistributorEmpaneled healthcare provider for Central Government employees and pensioners under CGHS, providing cashless treatment facilities.
• 25+ Third Party AdministratorscoreChannel Partner/ Reseller/ DistributorExtensive network of Third Party Administrators including Bajaj Allianz, MD India, Cholamandalam, Max Bupa, Paramount, Future Generali, Religare, Iffco Tokio, Vidal Health, and others enabling wide insurance coverage and cashless transactions for patients.
• 200+ Corporate PartnerscoreChannel Partner/ Reseller/ DistributorCorporate empanelment agreements with major Indian and multinational companies including Infosys, TCS, IBM, Dell, Hero MotoCorp, Maruti Suzuki, and others providing healthcare access for their employees through negotiated rates and preferential treatment.
• 50+ Public Sector UndertakingscoreChannel Partner/ Reseller/ DistributorEmpanelment with government enterprises including ONGC, IOC, SBI, NTPC, Power Grid, RBI, and various other PSUs for employee healthcare coverage.
• Artemis Health Sciences FoundationminorStrategic or Co-development PartnerAssociated not-for-profit foundation focused on community health initiatives, cancer screening camps, awareness programs, and partial financial assistance for underprivileged patients. The foundation operates a mobile cancer screening unit.
• Artemis Education and Research FoundationminorStrategic or Co-development PartnerHospital-based research institute conducting clinical and non-clinical research, hosting educational workshops like Flow Cytometry training programs, and supporting academic advancement in healthcare.
• Solace HomecareminorStrategic or Co-development PartnerHome-based healthcare services venture extending Artemis's care capabilities beyond hospital settings for post-discharge care, chronic disease management, and elderly care.

Scale indicators29 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Shalby Hospitals: Listed Indian hospital operator known for orthopedics (joint replacement) and expanding multi-specialty footprint; overlaps with Artemis on orthopedic and tertiary care service lines.
• Medanta (Global Health): Gurgaon-based super-specialty tertiary care hospital with similar advanced-technology positioning (robotic surgery, transplant programs) and direct overlap in cardiac, neuro, and oncology service lines.
• Aster DM Healthcare: Listed India-Gulf hospital chain with significant medical-tourism flow that overlaps Artemis's international patient strategy from the Middle East and Africa, plus comparable multi-specialty portfolio.
• Fortis Healthcare: Pan-India multi-specialty hospital operator with strong Delhi NCR presence and broad insurance/TPA empanelment. Competes for the same corporate, insured, and international patient pools as Artemis.
• Manipal Hospitals: Pan-India multi-specialty hospital operator with tertiary/quaternary care similar to Artemis (transplant, oncology, cardiac). Comparable listed-Indian hospital business model competing for similar patient and payor mix.
• Narayana Health: Multi-specialty hospital chain with strong cardiac and oncology programs and a value-based positioning that competes on price-quality for similar patient segments in North India.
• Max Healthcare Institute: Leading Delhi NCR-focused multi-super-specialty hospital chain with comparable specialty depth (oncology, cardiac, neuro, ortho, transplant) and similar accredited private-hospital positioning. Direct competitor in the same Gurgaon catchment and payor ecosystem.

Emerging players

• KIMS Hospitals: South-India-centric listed hospital chain scaling into North India; comparable multi-specialty tertiary services and listed-company profile make it a relevant peer for valuation benchmarking.
• HCG (HealthCare Global): Oncology-focused hospital chain; comparable to Artemis's flagship oncology service line (CyberKnife, CAR-T, radiation therapy) and a relevant peer for specialty-oncology economics and growth benchmarks.

Broad incumbents

• Apollo Hospitals Enterprise: Largest Indian hospital chain with flagship Delhi/ Gurgaon presence; broader specialty coverage and significantly larger scale make it a broad incumbent whose portfolio overlaps Artemis's multi-specialty, oncology, transplant, and international patient offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hospitalartemis
• Facebookfacebook.com/artemishospitals
• LinkedInlinkedin.com/company/artemis-health-institure

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Artemis Hospitals