INDIA – Paras Health, formerly Paras Healthcare, has hired Dilip Bidani as its new Group Chief Financial Officer (CFO) to support the company on its accelerated growth trajectory.
As part of the new initiative, Paras Health has forayed into a new vertical of laboratories, Paras Labs for patients’ clinical testing needs.
The group owns and operates a network of 6 well-equipped hospitals across India, with a combined authorized bed capacity of 1500 beds.
The healthcare provider plans to boost its bed capacity from 1500 beds to nearly 5000 beds by Fiscal Year 2028 through organic and inorganic expansion activities.
To deliver quality care across a wider geography, Paras Health, a chain of multispecialty hospitals in India, is embarking on a digital transformation with the aid of its partner MyHealthcare.
The company intends to implement electronic medical records (EMRs) and Digital Care Touchpoints throughout its healthcare system to enhance the patient experience at its facilities.
Paras is set to launch a suite of patient engagement apps, including the Paras Patient Mobile App, Patient Portal, and a WhatsApp channel.
“Dilip Bidani will lead the finance function at Paras Health with a specific focus on building the function for the next level of growth of the organisation,” Paras Health said in a press release.
With over 35 years of experience in finance functions across large firms, Dilip has practical skills in Corporate Finance, Investor Relations, Funds Management, and Business Planning & Strategy.
He has a proven track record in driving business transformation, scaling start-ups, and leading companies to Listing.
“Dilip has led two successful listings of private equity-backed companies, including the IPO of a diagnostics company and successful fundraising through a QIP,” outlined Paras Health.
Moreover, the incoming Group CFO led mergers and acquisitions activities including the merger of Radiant Life Care and Max Healthcare and relisting of the combined entity.
He also served at renowned companies in the healthcare industry such as Radiant Life Care Pvt Ltd, Dr. Lal PathLabs, AkzoNobel, Hindustan Unilever, Mother Dairy, and Manpower Group.
Paras Health has selected Dilip Bidani, who has served as the Chief Financial Officer of MobiKwik, to oversee the finance function of the company as it enters the next phase of business growth.
In his address, Dilip Bidani, Group CFO of Paras Health, asserted: “I am looking forward to working closely with a qualified, experienced, and passionate team of people who are striving to provide the best care for our patients and their families.”
Dilip Bidani underscored that Paras Health’s mission has always been to provide compassionate and quality healthcare services while expressing his readiness to take up the challenging role as the company’s Group CTO.
Commenting on the leadership changes, Dr. Dharminder Nagar, Managing Director of Paras Health, said: “Dilip Bidani will play a crucial role in taking us through our vision of providing affordable, accessible, and high-quality & compassionate healthcare services to our patients.”
He underscored that Dilip, the recipient of Financial Express CFO of the Year for Medium Services Sector, has a wealth of knowledge and expertise in the financial domain.
“He will be responsible for leading the road map for Paras Health to be present in many parts of the country as a trusted healthcare provider, especially where there is a need for quality healthcare,” stated Dr. Nagar.
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