Hannah Joseph Hospital is a single-facility hospital in Madurai built entirely around the brain - it began in 2008 as a neurosurgery and trauma centre, grew into a comprehensive neurological institute by adding its own neuroradiology department, and now layers other specialties on top of that core, using the same approach of bringing advanced diagnostics and surgical technology under one roof. The hospital was founded and is still led by a neurosurgeon and a psychiatrist, listed on the BSE SME platform in February 2026, and draws patients from across South Tamil Nadu and from Sri Lanka, Malaysia, Singapore and the Middle East. Everything it does follows a single logic: build a centre of excellence in a complex specialty where the barriers to entry are high, then extend that reputation into adjacent services that the same patients need. # Business segments A single-engine business - a tertiary-care hospital where neurosciences and trauma form the clinical anchor, and pharmacy and dietary services are ancillaries delivered on-site to the same patients. ## 1. Hospital services: a neuroscience institute that also treats everything else **The hospital earns by performing complex brain and spine surgeries, treating trauma patients, and running a full neurology and psychiatry practice - then captures the diagnostic scans, medicines and meals those patients need during their stay.** - **Neurosurgery is the anchor** - in FY26 the hospital performed 402 neurosurgery cases and 236 orthopaedic/trauma cases, meaning roughly two out of every three operations involved the brain or spine. It uses a BrainLab Navigation System with AI-powered fibre tracking, introduced in 2024 as the first such system in South Asia or India, which lets surgeons see critical neural pathways in real time during an operation. - **Trauma and orthopaedics feed off the same emergency infrastructure** - the remaining 236 surgeries were orthopaedic and trauma cases, and in 2026 the hospital launched a 24/7 emergency medical service at Madurai Airport, so accident victims can reach the operating theatre faster. - **Diagnostics are done in-house, not sent out** - the hospital has its own neuroradiology department with MRI and CT, a NABL-accredited lab for pathology and molecular diagnostics, and a pharmacy that dispenses medicines on-site, which together generated 28% of revenue from pharmacy sales and a further share from diagnostic charges bundled into inpatient bills. This keeps the full value of each patient episode inside the building. - **Paid per service, not per patient** - revenue is recognised as each service is delivered: inpatient and outpatient care over time, pharmacy and consumable sales at the point of dispensing, and insurance claims based on what is expected to be realised after historical settlement patterns. The hospital has tie-ups with 34 insurers, so a large share of patients pay through third-party claims rather than out of pocket. - **Oncology is the next layer** - the hospital already offers chemotherapy, targeted therapy, immunotherapy support and neuro-oncology surgery, and is building a dedicated radiation oncology centre on adjacent land acquired during FY26, funded by IPO proceeds. This extends the same model: take a high-complexity specialty, put the diagnostics and treatment under one roof, and capture the full care cycle. # Group structure and partners **A founder-led, family-run public company with no subsidiaries, no joint ventures and no foreign operations - the entire business is one hospital in Madurai.** - **Promoter-controlled** - Dr. Moses Joseph Arunkumar, the Managing Director and a neurosurgeon with over 25 years of experience, held 69.21% of the equity as of March 2026; his spouse Dr. Fenn Kavitha Fenn Arunkumar serves as Whole-time Director, and their daughter and son sit on the board as Non-Executive Directors alongside four Independent Directors. - **No external entanglements** - the company has no subsidiaries, associates or joint ventures, has incurred foreign currency expenditure, and has never accepted public deposits or dealt in crypto. - **Key management is lean** - the senior team consists of the Managing Director, the Whole-time Director, a Chief Financial Officer and a Company Secretary.