Blackstone enters Indian healthcare with Hyderabad buy – Times of India

by The Technical Blogs

[ad_1]

HYDERABAD: Global private equity giant Blackstone on Monday made its debut in the Indian healthcare market with the acquisition of a majority stake in Hyderabad-based CARE Hospitals, which in turn has inked a definitive agreement to buy Kerala-based KIMShealth from PE player True North.
The deal, which is pegged at over $1 billion, will create one of India’s largest hospital chains with a combined network of 23 hospitals with 4,000 beds across 11 cities, and catering to over 30 clinical specialties.

Screenshot 2023-10-31 054443

While none of the players disclosed the deal sizes, market reports estimated Blackstone’s buyout of CARE to be over $700 million and that of KIMShealth in the region of Rs 3,000-3,500 crore ($360-420 million).
After the acquisition, PE player TPG – which currently owns CARE Hospitals through the Evercare Health Fund – will be left with a significant minority stake in the combined platform.
On the other hand, while True North will sell its entire 61% stake in KIMShealth, the chain will continue to operate under its founder chairman & managing director Dr M I Sahadulla.
Blackstone Private Equity managing director Ganesh Mani said Blackstone aims to build a patient-centric hospital platform that will be focused on quality clinical care and services.



[ad_2]

Source link

Related Posts

Leave a Comment

Recent Posts

Pigeons swarm Las Vegas neighborhood, nesting at church Study finds adult female elk are badass and can’t be... Vacancy: some more elephants needed in the bush THE TECHNICAL BLOGS

Our Policies

Userful Links

Shop Stores

Copyright @2020  All Right Reserved - Designed and Developed by DSF SEO COMPANY