Reference: GILA/ID/SPEC-IPO/2617
Board seat: Independent Director, Non-Executive Board meeting locations: Western India, with rotation to a clinic cluster annually
Term: Five consecutive years, eligible for one re-appointment

Anonymised client snapshot
A single-specialty healthcare network in fertility, reproductive medicine and women's health, preparing to list.
60–120 clinics and day-care centres across 25–40 cities, spanning metros, tier-1 and tier-2 markets — an asset-light model built on leased premises and day-care infrastructure rather than inpatient hospital assets.
Revenue in the ₹800–1,800 crore range with EBITDA margins materially above those of a multi-specialty hospital network, reflecting the day-care, high-consumable, low-bed-intensity economics of the specialty.
Growth has been acquisition-led: a roll-up of independent clinics and small regional chains, with earn-out obligations, deferred consideration and doctor-retention arrangements attached to a significant proportion of acquisitions.




Financial sponsors hold a controlling or near-controlling stake following two rounds; the founding clinician remains as a senior clinical figure with a reduced holding.
Revenue is overwhelmingly self-pay, with a small and growing insurance component, and a meaningful international patient segment.
DRHP targeted within three to five quarters. Restatement is underway and has surfaced questions.

Why this seat exists

The clinical-governance seat on this board is already filled. This mandate is for the Audit Committee Chair, and the reason is the accounting.

A clinic roll-up going public presents a set of financial reporting problems that a hospital chain does not.
Thirty-plus acquisitions over six years generate purchase price allocations, identified intangibles, goodwill by cash-generating unit, contingent consideration remeasured through the income statement, and a restated financial history that must be reconstructed across acquired entities whose pre-acquisition

📌 Independent Director (Mumbai)
🏢 Gladwin International
📍 Mumbai