Kerala’s healthcare, once a model for accessibility, is undergoing a significant transformation. Big global investors are buying up our hospitals, bringing with them a new business approach that prioritises profit. While they promise “quality,” this shift is making healthcare, especially cancer treatment, increasingly expensive and harder for ordinary people to afford.

The Rise of Big Investors

The recent months have witnessed unprecedented changes in Kerala’s hospital ownership. American firm KKR has reportedly acquired Baby Memorial Hospital. KKR is now eyeing the HCG group - the largest chain of cancer centres in India. Before that, Singapore’s Temasek bought Manipal Hospital for a huge sum, and Blackstone, another American firm, acquired Aster Group and KIMS hospitals in Kerala. These companies are “private equity” firms. They invest large amounts, aim to make operations more efficient (often by cutting costs), and then sell for a quick profit.

While some say these investors bring in much-needed money and efficiency, the concern is their main goal is financial gain. This can often conflict with what’s best for patients.

Learning from Global Experience

International evidence presents a mixed picture of private equity in healthcare. In other countries, private equity involvement has sometimes led to higher costs and questions about patient care and access. While some operational improvements occur, studies also show:

• increased hospital-acquired infections

• higher mortality rates in certain contexts

• consistently higher costs for patients

• reduced access for low-income populations

What This Means For Our Patients!

This new wave of corporate ownership in Kerala’s healthcare could lead to several challenges:

• Higher Costs: Expect a sharp rise in treatment costs due to increased competition and a focus on maximising profits. As profit becomes the primary motive, cancer treatment—already expensive—will become even more unaffordable for ordinary families, even for families with stable incomes.
  
  

• Ethical Concerns: The patient-first approach that Kerala’s healthcare system was built on faces erosion under profit-driven models. The pursuit of profit might push aside patient wellbeing and ethical medical practices.
  
  

• Mandatory Health Insurance: Health insurance will become even more essential, and premiums will likely increase.
  
  

• Access Barriers: There’s a risk that hospitals might turn away patients based on their insurance type or ability to pay upfront, creating immense hardship in emergencies. Hospitals may prioritise patients based on their insurance coverage and payment capacity.

This is a serious threat to ordinary people who, when faced with a life-threatening illness, should be focused on recovery, not financial ruin.

The Co-operative Sector: Our Hope for Affordable Care

In this evolving situation, co-operative institutions like the MVR Cancer Centre become incredibly important. These centres, built on community support and a commitment to affordable care, offer a vital alternative. Their structure helps keep costs down, providing a crucial safety net for people.

To meet this challenge, co-operative cancer centres must:

• Be the Standard for Affordability: They should openly share their treatment costs, proving that quality cancer care doesn’t have to be out of reach. Their core mission must always be patient welfare over profit.
  
  

• Focus on Clinical Excellence: While affordable, they must also invest in modern technology and highly skilled medical staff. By showing great treatment results and patient satisfaction, they can prove that their “quality” is truly high.
  
  

• Grow and Collaborate: Expanding their facilities or collaborating with smaller clinics can help them serve more people. Forming strong networks with other co-operative and government hospitals will create a united front for affordable healthcare. They should also actively seek government support and partnerships.
  
  

• Embrace Community Power: Their community-driven nature is a huge asset. Encouraging donations and volunteerism strengthens their foundation and emphasises collective responsibility for health.
  
  

• Advocate for Fair Policies: They should actively work with the government to create policies that support co-operative healthcare models, like tax benefits or funding, ensuring that affordable care remains a priority for the state.

The rise of global investors in Kerala’s healthcare presents a significant challenge to our long-standing commitment to accessible and affordable medical services. However, it also highlights the invaluable role of community-rooted institutions like co-operative hospitals.

The Path Forward

The corporatisation of healthcare presents both challenges and opportunities. While we cannot stop global investment trends, we can ensure that community-driven, patient-centric alternatives remain strong and accessible.

Co-operative cancer centres must position themselves as:

• guardians of affordable care - keeping quality cancer treatment within reach of common people

• champions of ethical practice - maintaining the highest standards of medical ethics

• community partners - working closely with local communities to address their specific needs

A Call to Action

As we participate in this Cancer Conclave, let us remember that our primary responsibility is to our patients—not to profit margins or shareholders. The co-operative model offers a sustainable path forward, one that balances medical excellence with social responsibility. The future of Kerala’s healthcare depends on our collective commitment to preserving what makes our system special: its accessibility, affordability, and unwavering focus on patient welfare. Together, we can ensure that quality cancer care remains a right, not a privilege, for every person in our state.