Bengaluru, May 13: GIC & TPG-led Asia Healthcare Holdings (AHH)*, India’s leading single-speciality healthcare delivery platform, has announced the appointment of three new Independent Directors to its Board. The newly constituted Board includes seasoned industry veterans Mr Murali Sivaraman, Ms Vinita Bali and Ms Rashmi Joshi, who have joined as Independent Directors effective 1st May, 2026. The Board will also constitute Ms Cynthia Lau, Mr Mayank Rawat & Mr Lav Agarwal from GIC, Mr Ankur Thadani and Mr Bhushan Bopardikar from TPG Growth, in addition to Mr Vishal Bali, Executive Director.
Mr Murali Sivaraman will be Non-Executive Independent Director & Board Chairperson. Murali is an accomplished business leader with over three decades of global experience spanning consumer, industrial, and healthcare sectors. He has held leadership positions at Royal Philips and Imperial Chemical Industries (ICI), driving large-scale business transformation, growth, and international expansion across Asia, Europe, and North America.
Ms Vinita Bali will be Non-Executive Independent Director & NRC Chairperson. Vinita is a seasoned global business leader and an accomplished CEO, having worked across business domains and geographies. She has four decades of global experience in senior leadership roles at leading multinational organisations, including The Coca-Cola Company and Cadbury Schweppes. She also served as the Managing Director & CEO of Britannia Industries in India. Her experience also includes Independent Director roles at Companies & Foundations in India and overseas.
Ms Rashmi Joshi will be Non-Executive Independent Director & Audit Committee Chairperson. Rashmi is a distinguished Corporate finance leader with over three decades of experience across Finance, Strategy & transformation in global organisations across sectors including FMCG, pharmaceuticals, and energy. Across an 18-year stint in BP/Castrol, she played multiple roles in the finance function globally, including CFO and Whole Time Director of Castrol India operation. Her last role was Group CFO at Veedol Corporation.
Welcoming the Directors to the Board, Mr. Vishal Bali, Executive Director, said, “We are delighted to welcome our esteemed Independent Directors to Asia Healthcare Holdings at an important phase of our growth journey. AHH has recently completed 10-years in building and shaping single-speciality healthcare delivery in India. The Board’s extensive leadership experience, coupled with deep expertise in corporate strategy, governance, and financial leadership, will be invaluable as we continue to scale AHH in its next phase of growth. We look forward to their collective guidance”.
AHH today operates three single-speciality enterprises, Motherhood Hospitals, Nova IVF Fertility, and Asian Institute of Nephrology and Urology, with a collective strength of 150+ hospitals and clinics. The portfolio companies have a deep presence in 80+ cities across India and are backed by over 2,000 doctors and 6,100+ employees, delivering specialised care at scale.
Rhea Healthcare Private Limited is operating under Asia Healthcare Holdings, which is backed by GIC and TPG.