He said Medicover will use a combination of internally generated cash flows and investment from its parent company to support growth in the country.
Stenmo was in India early this week to open a 300-bed multispecialty quaternary care hospital in Kharghar, Navi Mumbai, which was built in partnership with Bhartiya Vidya Peeth.
Medicover entered the Indian healthcare market in 2017 with the acquisition of a controlling stake in Hyderabad-based Sahrudaya Healthcare, which ran a hospital under the brand MaxCure.
Since then, it has expanded its operations to a network of 24 hospitals with over 5,000 beds across Andhra Pradesh, Telangana and Maharashtra.
Stenmo said India is the third largest and fastest-growing business for Medicover, and will soon be the second-largest, overtaking Germany.
(With inputs from health)