BlackRock to exit Bengaluru-based People Tree Hospitals

Blackrock

People Tree Hospitals on Monday said is its Co-founder and CEO, Dr. Jothi Neeraja, has begun facilitating the exit of US asset manager BlackRock, which invested Rs 210 crore ($24 million) in March 2025

The Bengaluru-based hospital chain, led by Neeraja, has begun talks with new investors for a fresh capital infusion to facilitate the move, according to a company statement.

The investment, structured as promoter debt, helped People Tree expand its super-specialty capabilities. Financial details of the exit remain under wraps, but the company said investor appetite is strong, with interest from both financial and strategic buyers.

Neeraja is an obstetrician-gynecologist from Kadapa who built the 300-bed multi-specialty hospital from scratch. She previously returned capital to 78 individual investors and the family office of Infosys co-founder Kris Gopalakrishnan.

As People Tree transitions, Neeraja is doubling down on mental health—a sector she says is India’s “largest unmet healthcare need.” Her new venture, Maarga Mind Care, aims to build a 1,000-bed network across 25 centers to address the country’s 70–90% treatment gap.

“India has built world-class super-specialty care,” Neeraja said. “The next decade must belong to mental health—with the same urgency, quality and seriousness.”