The investment is a combination of primary capital and secondary purchases to acquire a significant minority stake in the company.
Hyderabad-based Krishna Institute of Medical Sciences (KIMS Hospitals) has received an investment fund of over $130 million from Global growth equity firm General Atlantic. The investment is a combination of primary capital and secondary purchases to acquire a significant minority stake in the company.
Set up in 2004 by Bhaskar Rao, a renowned cardiothoracic surgeon, Hyderabad-based KIMS Hospitals now has seven multi-speciality hospitals across the region and a capacity of over 2,500 beds.
“Given General Atlantic’s deep experience of investing in healthcare globally and its network of relationships across leading global healthcare institutions, we are confident that his new association will help KIMS Hospitals,” Bhaskar Rao, MD and CEO of KIMS Hospitals, said in a release issued here on Wednesday.
According to Sandeep Naik, Managing Director and Head of India and the Asia-Pacific at General Atlantic, the combination of an acute shortage in quality healthcare infrastructure and a strong focus from the government to make quality healthcare more accessible are driving growth for corporate hospital networks.
“We believe KIMS Hospitals is uniquely positioned to benefit from these trends,” he said. General Atlantic has been active in India since 1999 and has invested over $2 billion in the India and Asia-Pacific regions as of December 31, 2017.
General Atlantic focuses on investments across four sectors, including healthcare, technology, consumer, and financial services, with support from the firm’s global team of sector and operational experts. Its portfolio of current investments in India includes Absolute Barbeque, Billdesk, Capital Foods, CitiusTech, House of Anita Dongre, IIFL Wealth, Mu Sigma, National Stock Exchange and PNB Housing Finance.